LSB INDUSTRIES, INC. Exhibit 11.1
Page 1 of 6
PRIMARY EARNINGS PER SHARE COMPUTATION
1995 quarter ended
-------------------------------------------------
March 31 June 30 Sept. 30 Dec. 31
-------- ------- -------- -------
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 12,935,117
Common shares issued on conversion
of redeemable preferred stock;
calculated on weighted average
basis 180 - 10 440
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) (18,536)
---------- ---------- ---------- ----------
13,046,796 12,996,428 12,940,607 12,917,021
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 12,917,021
========== ========== ========== ==========
Earnings (loss) for primary
earnings (loss) per share:
Net earnings (loss) $ 1,448,092 $ 1,502,431 $(1,800,236) $(4,881,860)
Dividends on cumulative
preferred stocks (75,880) (60,000) (60,000) (60,000)
Dividends on Convertible,
exchangeable Class C preferred
stock (6.5% annually) (743,437) (743,437) (743,437) (743,437)
---------- ---------- ---------- ----------
Earnings (loss) applicable
to common stock $ 628,775 $ 698,994 $(2,603,673) $(5,685,297)
========== ========== ========== ==========
Earnings (loss) per share $ .05 $ .05 $(.20) $(.44)
===== ===== ===== =====
LSB INDUSTRIES, INC. Exhibit 11.1
Page 2 of 6
PRIMARY EARNINGS PER SHARE COMPUTATION
Year ended
December 31, 1995
-----------------
Net loss applicable to common stock $(6,961,201)
==========
Weighted average number of common and common
equivalent shares (average of four quarters
above) 13,223,445
==========
Loss per share $(.53)
=====
LSB INDUSTRIES, INC. Exhibit 11.1
Page 3 of 6
FULLY DILUTED EARNINGS PER SHARE COMPUTATION
1995 quarter ended
----------------------------------------------
March 31 June 30 Sept. 30 Dec. 31
-------- ------- -------- -------
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 12,917,021
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 12,917,021
========== ========== ========== ==========
Earnings (loss) for fully diluted
earnings (loss) per share:
Net earnings (loss) $ 1,448,092 $ 1,502,431 $(1,800,236) $(4,881,860)
Interest on convertible note 180 180 - -
Dividends on cumulative convertible
preferred stocks:
Series B (75,880) (60,000) (60,000) (60,000)
Series 2 Class C (743,437) (743,437) (743,437) (743,437)
---------- ---------- ---------- ----------
Earnings (loss) applicable to
common Stock $ 628,955 $ 699,174 $(2,603,673) $(5,685,297)
========== ========== ========== ==========
Earnings (loss) per share $ .05 $ .05 $(.20) $(.44)
===== ===== ===== =====
Year ended
December 31, 1995
-----------------
Net loss applicable to common stock $(6,960,841)
==========
Weighted average number of common and common
equivalent shares (average of four quarters
above) 13,233,022
==========
Loss per share $(.53)
=====
LSB INDUSTRIES, INC. Exhibit 11.1
Page 4 of 6
PRIMARY EARNINGS PER SHARE COMPUTATION
1994 quarter ended
--------------------------------------------------
March 31 June 30 Sept. 30 Dec. 31
-------- ------- -------- -------
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 13,214,701
Common shares issued on conversion
of redeemable preferred stock;
calculated on weighted average
basis 360 - 180 260
Common shares issued upon exercise
of employee or director stock
options; calculated on weighted
average basis 6,833 24,846 2,549 283
Purchases of treasury stock;
calculated on weighted average
basis (20,000) (29,176) (102,599) (118,796)
---------- ---------- ---------- ----------
13,661,164 13,655,361 13,455,321 13,096,448
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 13,455,321 13,096,448
========== ========== ========== ==========
Earnings (loss) for primary
earnings (loss) per share:
Net earnings (loss) $ 2,203,665 $27,254,968 $ (912,514) $(4,078,630)
Dividends on cumulative convertible
preferred stocks:
Series B (76,145) (60,000) (60,000) (60,000)
Series 2 Class C (747,500) (747,500) (745,469) (738,531)
---------- ---------- ---------- ----------
Earnings (loss) applicable
to common stock $ 1,380,020 $26,447,468 $(1,717,983) $(4,877,161)
========== ========== ========== ==========
Earnings (loss) per share $ .10 $1.84 $(.13) $(.37)
===== ===== ===== =====
LSB INDUSTRIES, INC. Exhibit 11.1
Page 5 of 6
PRIMARY EARNINGS PER SHARE COMPUTATION
Year ended
December 31, 1994
-----------------
Net earnings applicable to common stock $21,232,344
==========
Weighted average number of common and common
equivalent shares (average of four quarters
above) 13,831,128
==========
Earnings per share $1.54
=====
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 Dec. 31
-------- ------- -------- -------
Shares for fully diluted earnings
per share:
Weighted average shares outstanding
for primary earnings per share 13,661,164 13,655,361 13,455,321 13,096,448
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 13,455,321 13,096,448
========== ========== ========== ==========
Earnings (loss) for fully diluted
earnings (loss) per share:
Net earnings (loss) $ 2,203,665 $27,254,968 $ (912,514) $(4,078,630)
Interest on convertible note 180 180 - -
Dividends on cumulative convertible
preferred stocks:
Series B - - (60,000) (60,000)
Series 2 Class C (747,500) - (745,469) (738,531)
---------- ---------- ---------- ----------
Earnings (loss) applicable to
common Stock $ 1,456,345 $27,255,148 $(1,717,983) $(4,877,161)
========== ========== ========== ==========
Earnings (loss) per share $ .10 $1.44 $(.13) $(.37)
===== ===== ===== =====
Year ended
December 31, 1994
-----------------
Net earnings applicable to common stock $22,116,349
==========
Weighted average number of common and common
equivalent shares (average of four quarters
above) 15,155,461
==========
Earnings per share $1.46
=====
sec/10k/tk94x11.wpe