Item 6. TIFFANY & CO. AND SUBSIDIARIES
EXHIBIT 11 STATEMENT RE COMPUTATION OF PER SHARE EARNINGS
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(Unaudited)
(in thousands, except per share data)
Three Months Ended Six Months Ended
July 31, July 31, July 31, July 31,
1996 1995 1996 1995
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PRIMARY EARNINGS PER SHARE:
Net income on which primary
earnings per share are based $ 8,246 $ 5,308 $13,323 $7,468
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Weighted average number of
common shares 33,448 31,504 32,853 31,480
Add:
Weighted average effect of the
exercise of stock options 1,267 420 1,205 344
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Weighted average number of shares on
which primary earnings are based 34,715 31,924 34,058 31,824
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Primary net income per common share $ 0.24 $ 0.17 $ 0.39 $ 0.23
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FULLY DILUTED EARNINGS PER SHARE:
Net income on which primary earnings
per share are based $ 8,246 $ 5,308 $ 13,323 $ 7,468
Add:
Interest and fees on convertible
subordinated debt, net of
applicable income taxes 229 428 682 870
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Net income on which fully diluted
earnings per share are based $ 8,475 $ 5,736 $14,005 $ 8,338
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FULLY DILUTED EARNINGS PER SHARE:
Weighted average number of common shares
on which fully diluted earnings are based 34,715 32,092 34,162 32,068
Add:
Shares assumed upon conversion
of convertible debt, using the
"if converted" method 973 1,786 1,379 1,786
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Weighted average number of shares
used in calculating fully diluted
earnings per share 35,688 33,878 35,541 33,854
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Fully diluted net income per common share $ 0.24 $ 0.17 $ 0.39 $ 0.23
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