LSB INDUSTRIES, INC. Exhibit 11.1
Page 1 of 6
PRIMARY EARNINGS PER SHARE COMPUTATION
1996 quarter ended
---------------------------
March 31 June 30
Shares for primary earnings per share: ------------ ----------
Weighted average shares:
Common shares outstanding from
beginning of period 12,911,447 12,909,487
Common shares issued on conversion
of redeemable preferred stock;
calculated on weighted average
basis 270 -
Common shares issued upon exercise
of employee or director stock
options; calculated on weighted
average basis - -
Purchases of treasury stock;
calculated on weighted average
basis (330) (978)
---------- ----------
12,911,387 12,908,509
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) - 737,640
Assumed repurchase of outstanding
shares up to the 20% limitation
(based on average market price for
the period) - (359,676)
Common shares issuable on conversion
of redeemable preferred stock,
excluding shares included above
on actual conversion - 62,080
---------- ----------
- 440,044
12,911,387 13,348,553
========== ==========
Earnings for primary earnings per share:
Net earnings (loss) $ (531,218) $ 2,371,797
Dividends on cumulative preferred stocks (75,520) (60,000)
Dividends on convertible, exchangeable
Class C preferred Stock (6.5% annually) (743,438) (743,438)
Earnings applicable to common stock $(1,350,176) $ 1,568,359
========== ==========
Earnings per share $(.10) $ .12
==== ====
LSB INDUSTRIES, INC. Exhibit 11.1
Page 2 of 6
PRIMARY EARNINGS PER SHARE COMPUTATION
Six months
ended
June 30, 1996
-------------
Net earnings applicable to common Stock $ 218,183
==========
Weighted average number of common and common
equivalent shares (average of two quarters
above) 13,129,970
==========
Earnings per share $ .02
====
LSB INDUSTRIES, INC. Exhibit 11.1
Page 3 of 6
PRIMARY EARNINGS PER SHARE COMPUTATION
1995 quarter ended
-----------------------------
March 31 June 30
-------- -------
Shares for primary earnings per share:
Weighted average shares:
Common shares outstanding from
beginning of period 13,060,566 13,045,912
Common shares issued on conversion
of redeemable preferred stock;
calculated on weighted average
basis 180 -
Common shares issued upon exercise
of employee or director stock
options; calculated on weighted
average basis - 96,692
Purchases of treasury stock;
calculated on weighted average
basis (13,950) (146,176)
---------- ----------
13,046,796 12,996,428
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
Earnings for primary earnings per share:
Net earnings $ 1,448,092 $ 1,502,431
Dividends on cumulative preferred stocks (75,880) (60,000)
Dividends on convertible, exchangeable
Class C preferred Stock (6.5% annually) (743,437) (743,437)
---------- ----------
Earnings applicable to common stock $ 628,775 $ 698,994
========== ==========
Earnings per share $ .05 $ .05
==== ====
LSB INDUSTRIES, INC. Exhibit 11.1
Page 4 of 6
PRIMARY EARNINGS PER SHARE COMPUTATION
Six months
ended
June 30, 1996
-------------
Net earnings applicable to common Stock $ 1,327,769
==========
Weighted average number of common and common
equivalent shares (average of two quarters
above) 13,518,077
==========
Earnings per share $ .10
====
LSB INDUSTRIES, INC. Exhibit 11.1
Page 5 of 6
FULLY DILUTED EARNINGS PER SHARE COMPUTATION
1996 quarter ended
-----------------------------
March 31 June 30
-------- -------
Shares for fully diluted earnings per
share:
Weighted average shares outstanding
for primary earnings per share 12,911,387 12,908,509
Shares issuable upon exercise of
options and warrants - 737,640
Assumed repurchase of outstanding
shares up to the 20% limitation
(based on ending market price
for the quarter if greater than
the average) - (359,676)
Common shares issuable on conversion
of redeemable preferred stock,
excluding shares included above on
actual conversion - 62,080
Common shares issuable upon conversion
of convertible note payable - 4,000
Common shares issuable upon conversion
of convertible preferred stock, if
dilutive, from date of issue:
Series B - 666,666
Series 2 - -
---------- ----------
12,911,387 14,019,219
========== ==========
Earnings for fully diluted earnings
per share:
Net earnings (loss) $ (531,218) $2,371,797
Dividends on cumulative preferred
stocks:
Series B (75,520) -
Series 2 Class C (743,438) (743,438)
---------- ----------
Earnings applicable to common stock $(1,350,176) $1,628,359
========== =========
Earning (loss) per share $(.10) $ .12
==== ====
Six months
ended
June 30, 1996
-------------
Net earnings applicable to common stock $ 278,183
==========
Weighted average number of common and common
equivalent shares (average of two quarters
above) 13,465,303
==========
Earnings per share $ .02
=====
LSB INDUSTRIES, INC. Exhibit 11.1
Page 6 of 6
FULLY DILUTED EARNINGS PER SHARE COMPUTATION
1995 quarter ended
__________________________________
March 31 June 30
------------- -----------
Shares for fully diluted earnings
per share:
Weighted average shares outstanding
for primary earnings per share 13,046,796 12,996,428
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
========== ==========
Earnings for fully diluted
earnings per share:
Net earnings $ 1,448,092 $ 1,502,431
Interest on convertible note 180 180
Dividends on cumulative convertible
preferred stocks:
Series B (75,880) (60,000)
Series 2 Class C (743,437) (743,437)
---------- ----------
Earnings applicable to common stock $ 628,955 $ 699,174
========== ==========
Earnings per share $.05 $.05
=== ===
Six months
ended
June 30, 1995
-------------
Net earnings applicable to common stock $ 1,328,129
===========
Weighted average number of common and common
equivalent shares (average of two quarters
above) 13,537,230
==========
Earnings per share $.10
===
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