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 Nine Months Ended
September 30, September 30,
------------------ ------------------
1998 1997 1998 1997
-------- -------- ----------------
Computation of Earnings Per
Common Share
- ---------------------------
Reported Income $ 4,692 $ 2,106 $ 16,509 $ 13,427
======== ======== ======== ========
Average number of shares
outstanding 10,003 9,937 9,999 9,931
======== ======== ======== ========
Earnings per common share $ 0.47 $ 0.21 $ 1.65 $ 1.35
======== ======== ======== ========
Computation of Diluted
Earnings Per Common Share
- ---------------------------
Reported Income $ 4,692 $ 2,106 $ 16,509 $ 13,427
======== ======== ======== ========
Average number of shares
outstanding 10,003 9,937 9,999 9,931
Effect of nonvested
stock awards 28 37 36 30
Effect of unexercised
stock options 1 49 6 40
-------- -------- -------- --------
Average number of shares
used to compute diluted
earnings per share 10,032 10,023 10,041 10,001
======== ======== ======== ========
Diluted earnings per
common share $ 0.47 $ 0.21 $ 1.64 $ 1.34
======== ======== ======== ========
E - 1
Page 15 of 16
EXHIBIT 11
(continued)
CHEMED CORPORATION AND SUBSIDIARY COMPANIES
COMPUTATION OF PER SHARE EARNINGS
(in thousands except per share data)
Net Income
-----------------------------------------------
Three Months Ended Nine Months Ended
September 30, September 30,
------------------ -------------------
1998 1997 1998 1997
-------- -------- -------- --------
Computation of Earnings Per
Common Share
- ---------------------------
Reported Income $ 4,692 $ 11,808 $ 16,509 $ 26,587
======== ======== ======== ========
Average number of shares
outstanding 10,003 9,937 9,999 9,931
======== ======== ======== ========
Earnings per common share $ 0.47 $ 1.19 $ 1.65 $ 2.68
======== ======== ======== ========
Computation of Diluted
Earnings Per Common Share
- ---------------------------
Reported Income $ 4,692 $ 11,808 $ 16,509 $ 26,587
======== ======== ======== ========
Average number of shares
outstanding 10,003 9,937 9,999 9,931
Effect of nonvested
stock awards 28 37 36 30
Effect of unexercised
stock options 1 49 6 40
-------- -------- -------- --------
Average number of shares
used to compute diluted
earnings per share 10,032 10,023 10,041 10,001
======== ======== ======== ========
Diluted earnings per
common share $ 0.47 $ 1.18 $ 1.64 $ 2.66
======== ======== ======== ========
E - 2
Page 16 of 16