LSB INDUSTRIES, INC. Exhibit 11.1
Page 1 of 6
PRIMARY EARNINGS PER SHARE COMPUTATION
1995 quarter ended
---------------------------------
March 31 June 30 Sept. 30
Shares for primary earnings per share:
Weighted average shares:
Common shares outstanding from
beginning of period 13,060,566 13,045,912 12,941,097
Common shares issued on conversion
of redeemable preferred stock;
calculated on weighted average
basis 180 - 10
Common shares issued upon exercise
of employee or director stock
options; calculated on weighted
average basis - 96,692 3,326
Purchases of treasury stock;
calculated on weighted average
basis (13,950) (146,176) (3,826)
---------- ---------- ---------
13,046,796 12,996,428 12,940,607
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) 823,140 817,448 -
Assumed repurchase of outstanding
shares up to the 20% limitation
(based on average market price for
the period) (317,680) (393,498) -
Common shares issuable on conversion
of redeemable preferred stock,
excluding shares included above
on actual conversion - 63,520 -
---------- ---------- ----------
505,460 487,470 -
---------- ---------- ----------
13,552,256 13,483,898 12,940,607
========== ========== ==========
Earnings (loss) for primary earnings per share:
Net earnings (loss) $ 1,448,092 $ 1,502,431 $(1,800,736)
Dividends on cumulative preferred stocks (75,880) (60,000) (60,000)
Dividends on convertible, exchangeable
Class C preferred stock (6.5% annually) (743,437) (743,437) (743,437)
---------- --------- ----------
Earnings (loss) applicable
to common stock $ 628,775 $ 698,994 $(2,604,173)
========== ========= ==========
Earnings (loss) per share $ .05 $ .05 $(.20)
===== ===== =====
LSB INDUSTRIES, INC. Exhibit 11.1
Page 2 of 6
PRIMARY EARNINGS PER SHARE COMPUTATION
Nine months
ended
Sept. 30, 1995
--------------
Net loss applicable to common stock $(1,276,404)
==========
Weighted average number of common and common
equivalent shares (average of three quarters
above) 13,325,587
==========
Loss per share $(.10)
====
LSB INDUSTRIES, INC. Exhibit 11.1
Page 3 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
Purchase 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 -
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 13,455,320
Earnings (loss) for primary
earnings per share:
Net earnings (loss) $ 2,203,665 $27,254,968 $(912,514)
Dividends on cumulative
preferred stocks (76,145) (60,000) (60,000)
Dividends on convertible, exchangeable
Class C preferred stock
(6.5% annually) (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 $(.13)
==== ===== =====
LSB INDUSTRIES, INC. Exhibit 11.1
Page 4 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) 14,076,021
==========
Earnings per share $1.85
====
LSB INDUSTRIES, INC. Exhibit 11.1
Page 5 of 6
FULLY DILUTED EARNINGS PER SHARE COMPUTATION
1995 quarter ended
----------------------------------
March 31 June 30 Sept. 30
Shares for fully diluted earnings per
share:
Weighted average shares outstanding
for primary earnings per share 13,046,796 12,996,428 12,940,607
Shares issuable upon exercise of
options and warrants 823,140 817,448 -
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) (380,135) -
Common shares issuable on conversion
of redeemable preferred stock,
excluding shares included above on
actual conversion - 63,520 -
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 - - -
Series 2 - - -
---------- ---------- ----------
13,573,199 13,501,261 12,940,607
========== ========== ==========
Earnings (loss) for fully diluted earnings
per share:
Net earnings (loss) $ 1,448,092 $ 1,502,431 $(1,800,736)
Interest on convertible note 180 180 -
Dividends on cumulative convertible
preferred stocks:
Series B (75,880) (60,000) (60,000)
Series 2 Class C (743,437) (743,437) (743,437)
---------- ---------- ----------
Earnings (loss) applicable to
common stock $ 628,955 $ 699,174 $(2,604,173)
========== ========== ==========
Earnings (loss) per share $ .05 $ .05 $(.20)
Nine months
ended
Sept. 30, 1995
--------------
Net loss applicable to common stock $(1,276,044)
==========
Weighted average number of common and common
equivalent shares (average of three quarters
above) 13,338,356
==========
Loss per share $ (.10)
======
LSB INDUSTRIES, INC. Exhibit 11.1
Page 6 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 -
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 13,455,320
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 shar $.10 $1.44 $(0.13)
==== ===== ======
Nine months
ended
Sept. 30, 1994
--------------
Net earnings applicable to common stock $26,993,510
==========
Weighted average number of common and common
equivalent shares (average of three quarters
above) 15,841,798
==========
Earnings per share $1.70
====