LSB INDUSTRIES, INC. Exhibit 11.1
Page 1 of 6
PRIMARY EARNINGS PER SHARE COMPUTATION
1994 quarter ended
____________________________________
March 31 June 30
__________ ___________
Shares for primary earnings per share:
Weighted average shares:
Common shares outstanding from
beginning of period 13,673,971 13,659,691
Common shares issued on conversion
of redeemable preferred stock;
calculated on weighted average
basis 360 -
Common shares issued upon exercise
of employee or director stock
options; calculated on weighted
average basis 6,833 24,846
Purchases of treasury stock;
calculated on weighted average
basis (20,000) (29,176)
__________ __________
13,661,164 13,655,361
Common Stock equivalents:
Shares issuable upon exercise of
options and warrants (including
the weighted average for shares
subject to options and warrants
granted during the period) 934,807 877,794
Assumed repurchase of outstanding
shares up to the 20% limitation
(based on average market price for
the period) (247,510) (238,754)
Common shares issuable on conversion
of redeemable preferred stock,
excluding shares included above
on actual conversion 65,120 64,760
__________ __________
752,417 703,800
__________ __________
14,413,581 14,359,161
========== ==========
Earnings for primary earnings per share:
Net earnings $ 2,203,665 $27,254,968
Dividends on cumulative preferred stocks (76,145) (60,000)
Dividends on convertible, exchangeable
Class C preferred Stock (6.5% annually) (747,500) (747,500)
__________ __________
Earnings applicable to common stock $ 1,380,020 $26,447,468
========== ==========
Earnings per share $ .10 $1.84
===== =====
LSB INDUSTRIES, INC. Exhibit 11.1
Page 2 of 6
PRIMARY EARNINGS PER SHARE COMPUTATION
Six months
ended
June 30, 1994
_______________
Net earnings applicable to common Stock $27,827,488
==========
Weighted average number of common and common
equivalent shares (average of two quarters
above) 14,386,371
==========
Earnings per share $1.93
====
LSB INDUSTRIES, INC. Exhibit 11.1
Page 3 of 6
PRIMARY EARNINGS PER SHARE COMPUTATION
1993 quarter ended
____________________________________
March 31 June 30
_________ _________
Shares for primary earnings per share:
Weighted average shares:
Common shares outstanding from
beginning of period 7,393,674 12,706,305
Common shares issued on conversion
of redeemable preferred stock;
calculated on weighted average
basis 1,070 100
Common shares issued on conversion
of convertible preferred stock;
calculated on weighted average
basis 1,304,070 -
Common shares issued upon exercise
of employee or director stock
options; calculated on weighted
average basis 19,500 114,951
Sale of stock; calculated on weighted
average basis 5,843 -
__________ __________
8,724,157 12,821,356
Common Stock equivalents:
Shares issuable upon exercise of
options and warrants (including
the weighted average for shares
subject to options and warrants
granted during the period) 2,069,776 1,940,325
Assumed repurchase of outstanding
shares up to the 20% limitation
(based on average market price for
the period) (513,253) (446,403)
Common shares issuable on conversion
of redeemable preferred stock,
excluding shares included above
on actual conversion 67,810 66,640
__________ __________
1,624,333 1,560,562
__________ __________
10,348,490 14,381,918
========== ==========
Earnings for primary earnings per share:
Net earnings $ 2,657,133 $ 5,758,100
Dividends on cumulative preferred stocks 77,220 60,000
Dividends on convertible, exchangeable
Class C preferred stock (6.5% annually) - 290,183
__________ __________
Earnings applicable to common stock $ 2,579,913 $ 5,407,917
========== ==========
Earnings per share $.25 $.38
==== ====
LSB INDUSTRIES, INC. Exhibit 11.1
Page 4 of 6
PRIMARY EARNINGS PER SHARE COMPUTATION
Six months
ended
June 30, 1993
_______________
Net earnings applicable to common stock $ 7,987,830
==========
Weighted average number of common and common
equivalent shares (average of two quarters
above) 12,365,204
==========
Earnings per share $.65
====
LSB INDUSTRIES, INC. Exhibit 11.1
Page 5 of 6
FULLY DILUTED EARNINGS PER SHARE COMPUTATION
1994 quarter ended
_____________________________________
March 31 June 30
__________ __________
Shares for fully diluted earnings per
share:
Weighted average shares outstanding
for primary earnings per share 13,661,164 13,655,361
Shares issuable upon exercise of
options and warrants 934,807 877,794
Assumed repurchase of outstanding
shares up to the 20% limitation
(based on ending market price
for the quarter if greater than
the average) (247,510) (238,754)
Common shares issuable on conversion
of redeemable preferred stock,
excluding shares included above on
actual conversion 65,120 64,760
Common shares issuable upon conversion
of convertible note payable 4,000 4,000
Common shares issuable upon conversion
of convertible preferred stock, if
dilutive, from date of issue:
Series B 666,666 666,666
Series 2 - 3,956,000
__________ __________
15,084,247 18,985,827
========== ==========
Earnings for fully diluted earnings
per share:
Net earnings 2,203,665 27,254,968
Interest on convertible note 180 180
Dividends on cumulative preferred
stocks (747,500) -
__________ __________
Earnings applicable to common stock 1,456,345 27,255,148
========== ==========
Earning per share .10 1.44
=== ====
Six months
ended
June 30, 1994
______________
Net earnings applicable to common stock $28,711,493
==========
Weighted average number of common and common
equivalent shares (average of two quarters
above) 17,035,037
==========
Earnings per share $ 1.69
=====
LSB INDUSTRIES, INC. Exhibit 11.1
Page 6 of 6
FULLY DILUTED EARNINGS PER SHARE COMPUTATION
1993 quarter ended
_____________________________________
March 31 June 30
__________ ___________
Shares for fully diluted earnings
per share:
Weighted average shares outstanding
for primary earnings per share 8,724,157 12,821,356
Shares issuable upon exercise of
options and warrants 2,069,776 1,940,325
Assumed repurchase of outstanding
shares up to the 20% limitation
(based on ending market price for
the quarter if greater than the
average) (495,004) (408,527)
Common shares issuable on conversion
of redeemable preferred stock,
excluding shares included above
on actual conversion 67,810 66,640
Common shares issuable upon conversion
of convertible note payable 4,000 4,000
Common shares issuable upon conversion
of convertible preferred stock,
if dilutive, from date of issue:
Series B 666,666 666,666
Series 1, net of shares held in
treasury 3,748,470 -
Series 2 - 1,494,489
__________ __________
14,785,875 16,584,949
========== ==========
Earnings for fully diluted
earnings per share:
Net earnings $ 2,657,133 $ 5,758,100
Interest on convertible note 180 180
__________ __________
Earnings applicable to common stock $ 2,657,313 $ 5,758,280
========== ==========
Earnings per share $.18 $.35
==== ====
Six months
ended
June 30, 1993
______________
Net earnings applicable to common stock $ 8,415,593
==========
Weighted average number of common and common
equivalent shares (average of two quarters
above) 15,685,412
==========
Earnings per share $.54
====
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