Oil-Dri Corporation of America (ODC) 10-Q 2011 Q2 Quarterly report

Exhibit 11:

OIL-DRI CORPORATION OF AMERICA AND SUBSIDIARIES

Computation of Earnings Per Share

(in thousands except for per share amounts)

	Three months Ended January 31,						Six months Ended January 31,
	2011			2010			2011			2010
Net income available to stockholders	$	1,777		$	2,262		$	4,296		$	4,456
Less: Distributed and undistributed earnings allocated to nonvested stock		(29	)		(7	)		(50	)		(16	)
Earnings available to common shareholders	$	1,748		$	2,255		$	4,246		$	4,440
Shares Calculation
Average shares outstanding –    Basic Common		5,079			5,206			5,082			5,200
Average shares outstanding –    Basic Class B Common		1,908			1,890			1,902			1,885
Potential Common Stock relating   to stock options		110			173			128			174
Average shares outstanding – Assuming dilution		7,097			7,269			7,112			7,259
Net Income Per Share:    Basic Common	$	0.27		$	0.34		$	0.65		$	0.67
Net Income Per Share:    Basic Class B Common	$	0.20		$	0.26		$	0.49		$	0.50
Net Income Per Share:    Diluted	$	0.25		$	0.31		$	0.60		$	0.61

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