LSB INDUSTRIES, INC. Exhibit 11.1
Page 1 of 6
PRIMARY EARNINGS PER SHARE COMPUTATION
1994 quarter ended
_______________________________________
March 31 June 30 Sept. 30
__________ __________ __________
Shares for primary earnings per share:
Weighted average shares:
Common shares outstanding from
beginning of period 13,673,971 13,659,691 13,555,191
Common shares issued on conversion
of redeemable preferred stock;
calculated on weighted average
basis 360 - 180
Common shares issued upon exercise
of employee or director stock
options; calculated on weighted
average basis 6,833 24,846 2,549
Purchases of treasury stock;
calculated on weighted average
basis (20,000) (29,176) (102,599)
__________ __________ __________
13,661,164 13,655,361 13,455,320
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) 934,807 877,794 827,591
Assumed repurchase of outstanding
shares up to the 20% limitation
(based on average market price for
the period) (247,510) (238,754) (292,577)
Common shares issuable on conversion
of redeemable preferred stock,
excluding shares included above
on actual conversion 65,120 64,760 64,580
__________ __________ __________
752,417 703,800 599,594
14,413,581 14,359,161 14,054,914
Earnings (loss) for primary
earnings (loss) per share:
Net earnings (loss) $2,203,665 $27,254,968 $(912,514)
Dividends on cumulative convertible
preferred stocks:
Series B (76,145) (60,000) (60,000)
Series 2 Class C (747,500) (747,500) (745,469)
__________ ___________ __________
Earnings (loss) applicable to
common stock $1,380,020 $26,447,468 $(1,717,983)
Earnings (loss) per share $.10 $1.84 $(0.12)
LSB INDUSTRIES, INC. Exhibit 11.1
Page 2 of 6
PRIMARY EARNINGS PER SHARE COMPUTATION
Nine months
ended
Sept. 30, 1994
______________
Net earnings applicable to common stock $26,109,505
===========
Weighted average number of common and common
equivalent shares (average of three quarters
above) 14,275,885
==========
Earnings per share $1.83
=====
LSB INDUSTRIES, INC. Exhibit 11.1
Page 3 of 6
PRIMARY EARNINGS PER SHARE COMPUTATION
1993 quarter ended
________________________________________
March 31 June 30 Sept. 30
_________ ________ _________
Shares for primary earnings per share:
Weighted average shares:
Common shares outstanding from
beginning of period 7,393,674 12,706,305 12,894,505
Common shares issued on conversion
of redeemable preferred stock;
calculated on weighted average
basis 1,070 100 80
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 19,500 114,951 392,170
Purchases of treasury stock;
calculated on weighted average
basis - - (69,541)
Sale of stock; calculated on weighted
average basis 5,843 - -
__________ __________ __________
8,724,157 12,821,356 13,217,214
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 1,475,106
Assumed repurchase of outstanding
shares up to the 20% limitation
(based on average market price for
the period) (513,253) (446,403) (313,033)
Common shares issuable on conversion
of redeemable preferred stock,
excluding shares included above
on actual conversion 67,810 66,640 66,460
__________ __________ __________
1,624,333 1,560,562 1,228,533
__________ __________ __________
10,348,490 14,381,918 14,445,747
========== ========== ==========
Earnings for primary earnings per share:
Net earnings $2,657,133 $5,758,100 $2,423,644
Dividends on cumulative convertible
preferred stocks:
Series B (77,220) (60,000) (60,000)
Series 2 Class C (290,183) (747,500)
__________ __________ __________
Earnings applicable to common stock $2,579,913 $5,407,917 $1,616,144
========== ========== ==========
Earnings per share $.25 $.38 $.11
==== ==== ====
LSB INDUSTRIES, INC. Exhibit 11.1
Page 4 of 6
PRIMARY EARNINGS PER SHARE COMPUTATION
Nine months
ended
Sept. 30, 1993
______________
Net earnings applicable to common stock $9,603,974
==========
Weighted average number of common and common
equivalent shares (average of three quarters
above) 13,058,718
==========
Earnings per share $.74
====
LSB INDUSTRIES, INC. Exhibit 11.1
Page 5 of 6
FULLY DILUTED EARNINGS PER SHARE COMPUTATION
1994 quarter ended
_______________________________________
March 31 June 30 Sept. 30
_________ ________ _________
Shares for fully diluted earnings per
share:
Weighted average shares outstanding
for primary earnings per share 13,661,164 13,655,361 13,455,320
Shares issuable upon exercise of
options and warrants 934,807 877,794 827,591
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) (292,577)
Common shares issuable on conversion
of redeemable preferred stock,
excluding shares included above on
actual conversion 65,120 64,760 64,580
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 14,054,914
Earnings (loss) for fully diluted earnings
(loss) per share:
Net earnings (loss) $2,203,665 $27,254,968 $(912,514)
Interest on convertible note 180 180 -
Dividends on cumulative convertible
preferred stocks:
Series B - - (60,000)
Series 2 Class C (747,500) - (745,469)
_________ __________ __________
Earnings (loss) applicable to
common stock $1,456,345 $27,255,148 $(1,717,983)
========== =========== ===========
Earnings (loss) per share $.10 $1.44 $(0.12)*
==== ===== ======
Nine months
ended
Sept. 30, 1994
______________
Net earnings $26,993,510
Weighted average number of common and common
equivalent shares (average of three quarters
above) 16,041,662
Earnings per share $1.68
* Primary and fully diluted loss per share for the three months ended
September 30, 1994 are the same because the fully diluted
computation has an anti-dilutive effect.
LSB INDUSTRIES, INC. Exhibit 11.1
Page 6 of 6
FULLY DILUTED EARNINGS PER SHARE COMPUTATION
1993 quarter ended
________________________________________
March 31 June 30 Sept. 30
_________ ________ _________
Shares for fully diluted earnings
per share:
Weighted average shares outstanding
for primary earnings per share 8,724,157 12,821,356 13,217,214
Shares issuable upon exercise of
options and warrants 2,069,776 1,940,325 1,475,106
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) (308,015)
Common shares issuable on conversion
of redeemable preferred stock,
excluding shares included above
on actual conversion 67,810 66,640 66,460
Common shares issuable upon conversion
of convertible note payable 4,000 4,000 4,000
Common shares issuable upon conversion
of convertible preferred stock,
if dilutive, from date of issue:
Series B 666,666 666,666 666,666
Series 1, net share
held in treasury 3,748,470 - -
Series 2 - 1,494,489 -
__________ __________ __________
14,785,875 16,584,949 15,121,431
========== ========== =========
Earnings for fully diluted
earnings per share:
Net earnings $2,657,133 $5,758,100 $2,423,644
Interest on convertible note 180 180 180
Dividends on cumulative preferred
stocks - - (747,500)
__________ __________ __________
Earnings applicable to common stock $2,657,313 $5,758,280 $1,676,324
========== ========== ==========
Earnings per share $.18 $.35 $.11
==== ==== ====
Nine months
ended
Sept. 30, 1993
______________
Net earnings $10,091,917
===========
Weighted average number of common and common
equivalent shares (average of three quarters
above) 15,497,418
==========
Earnings per share $.64
====
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