LSB INDUSTRIES, INC. Exhibit 11.1
Page 1 of 2
PRIMARY EARNINGS PER SHARE COMPUTATION
Quarter ended March 31,
--------------------------
1995 1994
Shares for primary earnings per share:
Weighted average shares:
Common shares outstanding from beginning
of period 13,060,566 13,673,971
Common shares issued on conversion
of redeemable preferred stock;
calculated on weighted average
basis 180 360
Common shares issued upon exercise
of employee or director stock
options; calculated on weighted
average basis - 6,833
Purchases of treasury stock;
calculated on weighted average
basis (13,950) (20,000)
---------- ----------
13,046,796 13,661,164
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) 823,140 934,807
Assumed repurchase of outstanding
shares up to the 20% limitation
(based on average market price for
the period) (317,680) (247,510)
Common shares issuable on conversion
of redeemable preferred stock,
excluding shares included above
on actual conversion - 66,560
----------- ----------
505,460 753,857
----------- ----------
13,552,256 14,415,021
Earnings for primary earnings per share:
Net earnings $1,548,092 $2,203,665
Dividends on cumulative preferred stocks (75,880) ( 76,145)
Dividends on convertible, exchangeable
Class C preferred stock (6.5% annually) (743,437) (747,500)
----------- ----------
Earnings applicable to common stock $ 728,775 $1,380,020
Earnings per share $.05 $.10
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LSB INDUSTRIES, INC. Exhibit 11.1
Page 2 of 2
FULLY DILUTED EARNINGS PER SHARE COMPUTATION
Quarter ended March 31,
---------------------------
1995 1994
----------- ---------
Shares for fully diluted earnings per
share:
Weighted average shares outstanding
for primary earnings per share 13,046,796 13,661,164
Shares issuable upon exercise of
options and warrants 823,140 934,807
Assumed repurchase of outstanding
shares up to the 20% limitation
(based on ending market price
for the quarter if greater than
the average) (300,737) (247,510)
Common shares issuable on conversion
of redeemable preferred stock,
excluding shares included above on
actual conversion - 66,560
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
----------- ----------
13,573,199 15,085,687
Earnings for fully diluted earnings
per share:
Net earnings $1,548,092 $2,203,665
Interest on convertible note 180 180
Dividends on cumulative convertible preferred
stocks:
Series B (75,880) -
Series 2 Class C (743,437) (747,500)
----------- ----------
Earnings applicable to common stock $ 728,955 $1,456,345
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Earnings per share $.05 $.10
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