Exhibit (11)
PHH CORPORATION AND SUBSIDIARIES
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INFORMATION USED IN THE COMPUTATION OF NET INCOME PER SHARE
(thousands except per share data)
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Nine Months Ended January 31,
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1994 1993
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NET INCOME - as reported $46,403 $39,794
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Weighted average number of
shares outstanding 17,368 16,955
Give effect to the exercise of
dilutive options determined
under the treasury stock method 390 283
Reflect the period-end market
price when greater than the
average market price during the
quarter 37 58
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Number of shares used in the
computation of net income per
share 17,795 17,296
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NET INCOME PER SHARE $2.61 $2.30
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