LSB INDUSTRIES, INC. Exhibit 11.1
Page 1 of 6
PRIMARY EARNINGS PER SHARE COMPUTATION
1996 quarter ended
March 31 June 30 Sept. 30
-------- ------- --------
Shares for primary earnings per share:
Weighted average shares:
Common shares outstanding from
beginning of period 12,911,447 12,909,487 12,908,487
Common shares issued on conversion
of redeemable preferred stock;
calculated on weighted average
basis 270 - 260
Common shares issued upon exercise
of employee or director stock
options; calculated on weighted
average basis - - 12,527
Purchase of treasury stock;
calculated on weighted
average basis (330) (978) ( 12,734)
---------- ---------- ----------
12,911,387 12,908,509 12,908,540
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 12,908,540
========== ========== ==========
Earnings for primary earnings per share:
Net earnings (loss) $ (531,218) $ 2,371,797 $(3,217,649)
Dividends on cumulative preferred stocks (75,520) (60,000) (60,000)
Dividends on convertible, exchangeable
Class C preferred stock (6.5% annually) (743,438) (743,438) (743,438)
---------- --------- ---------
Earnings (loss) applicable to common
stock $(1,350,176) $ 1,568,359 $(4,021,087)
========== ========= =========
Earnings (loss) per share $(.10) $ .12 $(.31)
===== ===== =====
LSB INDUSTRIES, INC. Exhibit 11.1
Page 2 of 6
PRIMARY EARNINGS PER SHARE COMPUTATION
Nine months
ended
Sept. 30, 1996
Net loss applicable to common stock $(3,802,904)
==========
Weighted average number of common and common
equivalent shares (average of three quarters
above) 13,056,160
==========
Loss per share $(.29)
=====
LSB INDUSTRIES, INC. Exhibit 11.1
Page 3 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 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 4 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 5 of 6
FULLY DILUTED EARNINGS PER SHARE COMPUTATION
1996 quarter ended
____________________________________
March 31 June 30 Sept. 30
---------- ----------- ---------
Shares for fully diluted earnings
per share:
Weighted average shares outstanding
for primary earnings per share 12,911,387 12,908,509 12,908,540
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 12,908,540
========== ========== ==========
Earnings for fully diluted
earnings per share:
Net earnings (loss) $ (531,218) $ 2,371,797 $(3,217,649)
Dividends on cumulative convertible
preferred stocks:
Series B (75,520) - (60,000)
Series 2 class C (743,438) (743,438) (743,438)
---------- ---------- ---------
Earnings (loss) applicable to
common stock $(1,350,176) $ 1,628,359 $(4,021,087)
========== ========== ==========
Earnings (loss) per share $(.10) $ .12 $( .31)
===== ===== ======
Nine months
ended
Sept. 30, 1996
Net loss applicable to common stock $(3,742,904)
==========
Weighted average number of common and common
equivalent shares (average of three quarters
above) 13,279,715
==========
Loss per share $(.29)
=====
LSB INDUSTRIES, INC. Exhibit 11.1
Page 6 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 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)
======