EXHIBIT 11
CHEMED CORPORATION AND SUBSIDIARY COMPANIES
COMPUTATION OF PER SHARE EARNINGS
(in thousands except per share data)
Income from Continuing Operations
--------------------------------------------
Three Months Ended Six Months Ended
June 30, June 30,
------------------ ------------------
1998 1997 1998 1997
-------- -------- ----------------
Computation of Earnings Per
Common Share
- ---------------------------
Reported Income $ 5,566 $ 3,944 $ 11,817 $ 11,321
======== ======== ======== ========
Average number of shares
outstanding 10,005 9,930 9,997 9,928
======== ======== ======== ========
Earnings per common share $ 0.56 $ 0.40 $ 1.18 $ 1.14
======== ======== ======== ========
Computation of Diluted
Earnings Per Common Share
- ---------------------------
Reported Income $ 5,566 $ 3,944 $ 11,817 $ 11,321
======== ======== ======== ========
Average number of shares
outstanding 10,005 9,930 9,997 9,928
Effect of nonvested
stock awards 36 26 40 25
Effect of unexercised
stock options 16 32 28 36
-------- -------- -------- --------
Average number of shares
used to compute diluted
earnings per share 10,057 9,988 10,065 9,989
======== ======== ======== ========
Diluted earnings per
common share $ 0.55 $ 0.39 $ 1.17 $ 1.13
======== ======== ======== ========
E - 1
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EXHIBIT 11
(continued)
CHEMED CORPORATION AND SUBSIDIARY COMPANIES
COMPUTATION OF PER SHARE EARNINGS
(in thousands except per share data)
Net Income
-------------------------------------------
Three Months Ended Six Months Ended
June 30, June 30,
------------------ -------------------
1998 1997 1998 1997
-------- -------- -------- --------
Computation of Earnings Per
Common Share
- ---------------------------
Reported Income $ 5,566 $ 6,292 $ 11,817 $ 14,779
======== ======== ======== ========
Average number of shares
outstanding 10,005 9,930 9,997 9,928
======== ======== ======== ========
Earnings per common share $ 0.56 $ 0.63 $ 1.18 $ 1.49
======== ======== ======== ========
Computation of Diluted
Earnings Per Common Share
- ---------------------------
Reported Income $ 5,566 $ 6,292 $ 11,817 $ 14,779
Impact of subsidiary options - (5) - (5)
-------- -------- -------- --------
Adjusted Income $ 5,566 $ 6,287 $ 11,817 $ 14,774
======== ======== ======== ========
Average number of shares
outstanding 10,005 9,930 9,997 9,928
Effect of nonvested
stock awards 36 26 40 25
Effect of unexercised
stock options 16 32 28 36
-------- -------- -------- --------
Average number of shares
used to compute diluted
earnings per share 10,057 9,988 10,065 9,989
======== ======== ======== ========
Diluted earnings per
common share $ 0.55 $ 0.63 $ 1.17 $ 1.48
======== ======== ======== ========
E - 2
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