LSB INDUSTRIES, INC. Exhibit 11.1
Page 1 of 6
PRIMARY EARNINGS PER SHARE COMPUTATION
1997 quarter ended
March 31 June 30 Sept. 30
Shares for primary earnings per share:
Weighted average shares:
Common shares outstanding from
beginning of period 12,975,356 12,931,856 12,934,081
Common shares issued on conversion
of redeemable preferred stock;
calculated on weighted average
basis - - -
Common shares issued upon exercise
of employee or director stock
options; calculated on weighted
average basis 13,440 35,198 -
Purchases of treasury stock;
calculated on weighted average
basis (13,972) (60,367) (102,461)
---------- ---------- ----------
12,974,824 12,906,687 12,831,620
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) - 790,942 -
Assumed repurchase of outstanding
shares up to the 20% limitation
(based on average market price for
the period) - (539,953) -
Common shares issuable on conversion
of redeemable preferred stock,
excluding shares included above
on actual conversion -
- 250,989 -
---------- ---------- ----------
12,974,824 13,157,676 12,831,620
========== ========== ==========
Earnings for primary earnings per share:
Net earnings (loss) $(5,437,954) $1,466,628 $(4,778,649)
Dividends on cumulative preferred stocks (60,000) (75,390) (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 $(6,241,392) $ 647,800 $(5,582,087)
=========== ========= ===========
Earnings (loss) per share $ (.48) $ .05 $ (.44)
=========== ========= ===========
LSB INDUSTRIES, INC. Exhibit 11.1
Page 2 of 6
PRIMARY EARNINGS PER SHARE COMPUTATION
Nine months
ended
September 30, 1997
Net loss applicable to common Stock $(11,175,679)
============
Weighted average number of common and common
equivalent shares (average of three quarters
above) 12,988,040
============
Loss per share $ (.86)
============
LSB INDUSTRIES, INC. Exhibit 11.1
Page 3 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
Purchases 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 4 of 6
PRIMARY EARNINGS PER SHARE COMPUTATION
Nine months
ended
September 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 5 of 6
FULLY DILUTED EARNINGS PER SHARE COMPUTATION
1997 quarter ended
March 31 June 30 Sept. 30
--------- ------- --------
Shares for fully diluted earnings
per share:
Weighted average shares outstanding
for primary earnings per share 12,974,824 12,906,687 12,831,620
Shares issuable upon exercise of
options and warrants - 790,942 -
Assumed repurchase of outstanding
shares up to the 20% limitation
(based on ending market price for
the quarter if greater than the
average) - (539,953) -
Common shares issuable on conversion
of redeemable preferred stock,
excluding shares included above
on actual conversion - - -
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 - - -
Series 2 - - -
---------- ---------- ----------
12,974,824 13,161,676 12,831,620
========== ========== ==========
Earnings for fully diluted
earnings per share:
Net earnings (loss) $(5,437,954) $1,466,628 $(4,778,649)
Dividends on cumulative convertible
preferred stocks:
Series B (60,000) (75,390) (60,000)
Series 2 Class C (743,438) (743,438) (743,438)
----------- ---------- ----------
Earnings (loss) applicable to
common stock $(6,241,392) $ 647,800 $(5,582,087)
=========== ========== ==========
Earnings (loss) per share $ (.48) $ .05 $ (.44)
=========== ========== ==========
Nine months ended
September 30, 1997
------------------
Net loss applicable to common stock $(11,175,679)
============
Weighted average number of common and common
equivalent shares (average of three quarters
above) 12,989,373
============
Loss per share $ (.86)
============
LSB INDUSTRIES, INC. Exhibit 11.1
Page 6 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)
=========== ========== ===========
Earning (loss) per share $ (.10) $ .12 $ (.31)
=========== ========== ===========
Nine months ended
September 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)
============