EXHIBIT 11
BARR LABORATORIES, INC.
COMPUTATION OF PER SHARE EARNINGS (1)
(Amounts in thousands, except per share amounts)
1996 1995 1994
PRIMARY
Average shares outstanding 13,979 13,418 13,035
Net effect of dilutive stock options -
based on the treasury stock method using
average market price 526 - (2) 297
Total 14,505 13,418 13,332
Net earnings $7,016 $6,225 $2,658
Net earnings per share $0.48 $0.46 $0.20
FULLY DILUTED
Average shares outstanding 13,979 13,418 13,035
Net effect of dilutive stock options -
based on the treasury stock method using
average market price 781 336 327
Convertible debenture - - 755
Total 14,760 13,754 14,117
Net earnings $7,016 $6,225 $2,658
Add convertible debt interest, deferred
finance charges, net of income tax effect - 668
Total $7,016 $6,225 $3,326
Net earnings per share $0.48 $0.45 (3) $0.24(4)
(1) 1995 and 1994 have been adjusted for the March 1996 3-for-2
stock split.
(2) Stock options of 312 in 1995 are not included
because their inclusion results in less than 3% dilution.
(3) Results in less than 3% dilution.
(4) Anti-dilutive.