HEILIG-MEYERS COMPANY
COMPUTATION OF PER SHARE EARNINGS (LOSS)
(Amounts in thousands except per share data)
Three Months Ended Nine Months Ended
November 30, November 30,
1997 1996 1997 1996
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Primary Earnings (Loss) Per Share:
Average number of
shares outstanding 56,786 48,623 55,730 48,571
Net effect of stock
options 651 369 800 841
Contingently issuable shares
considered outstanding 127 0 42 0
Average number of
shares as adjusted 57,564 48,992 56,572 49,412
Net earnings (loss) $(49,122) $9,492 $(26,082) $29,609
Per share amount $ (.85) $ .19 $ (.46) $ .60
Fully Diluted Earnings (Loss) Per Share:
Average number of
shares outstanding 56,786 48,623 55,730 48,571
Net effect of stock
options 651 369 816 856
Contingently issuable shares
considered outstanding 127 0 42 0
Average number of
shares as adjusted 57,564 48,992 56,588 49,427
Net earnings (loss) $(49,122) $9,492 $(26,082) $29,609
Per share amount $ (.85) $ .19 $ (.46) $ .60
Earnings (Loss) Per Common Share:
Earnings (loss) per common share is computed by dividing net earnings (loss) by
the weighted average number of shares of common stock and common stock
equivalents outstanding during the year. The Company has issued stock options,
which are the Company's only common stock equivalent, at exercise prices ranging
from $5.52 to $35.06. Stock options which were antidilutive for the period ended
November 30, 1997 were not included in the earnings (loss) per share
calculation.
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