CHEMED CORPORATION AND SUBSIDIARY COMPANIES
COMPUTATION OF PER SHARE EARNINGS
(in thousands except per share data)
EXHIBIT 11
Income from
Continuing Operations
---------------------
Three Months Ended
March 31,
---------------------
1998 1997
---------------------
Computation of Earnings Per Common Share
- ----------------------------------------
Reported Income $ 6,251 $ 7,377
======= =======
Average number of shares outstanding 9,989 9,928
======= =======
Earnings share $ .63 $ .74
======= =======
Computation of Diluted Earnings Per Common Share
- ------------------------------------------------
Reported Income $ 6,251 $ 7,377
======= =======
Average number of shares outstanding 9,989 9,928
Effect of nonvested stock awards 44 23
Effect of unexercised stock options 57 39
------- -------
Average number of shares used to compute
diluted earnings per common share 10,090 9,990
======= =======
Earnings per common share
assuming full dilution $ .62 $ .74
======= =======
E - 1
Page 11 of 12
CHEMED CORPORATION AND SUBSIDIARY COMPANIES
COMPUTATION OF PER SHARE EARNINGS
(in thousands except per share data)
EXHIBIT 11 (continued)
Net Income
---------------------
Three Months Ended
March 31,
---------------------
1998 1997
---------------------
Computation of Earnings Per Common Share
- ----------------------------------------
Reported Income $ 6,251 $ 8,487
======= =======
Average number of shares outstanding 9,989 9,928
======= =======
Earnings per common share $ .63 $ .85
======= =======
Computation of Diluted Earnings Per Common Share
- ------------------------------------------------
Reported Income $ 6,251 $ 8,487
Impact of subsidiary stock options - (5)
------- -------
Adjusted income $ 6,251 $ 8,482
======= =======
Average number of shares outstanding 9,989 9,928
Effect of nonvested stock awards 44 23
Effect of unexercised stock options 57 39
------- -------
Average number of shares
used to compute diluted
earnings per common share 10,090 9,990
======= =======
Earnings per common share
assuming full dilution $ .62 $ .85
======= =======
E - 1
Page 12 of 12