LEE ENTERPRISES, INCORPORATED
PART I. EXHIBIT 11
Computation of Earnings Per Common Share
(In Thousands Except Per Share Amounts)
Three Months Nine Months
Ended June 30, Ended June 30,
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1997 1996 1997 1996
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Income applicable to common shares:
Income from continuing operations ........... $17,759 $15,381 $48,107 $39,157
Income from discontinued operations ......... 485 1,664 1,485 4,633
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Net income ....................... $18,244 $17,045 $49,592 $43,790
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Shares:
Weighted average common shares
outstanding .............................. 46,401 46,974 46,646 47,126
Dilutive effect of certain stock
operations ............................... 830 964 842 895
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Average common shares outstanding,
as adjusted ...................... 47,231 47,938 47,488 48,021
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Earnings per share of common stock:
Income from continuing operations ........... $ 0.38 $ 0.32 $ 1.01 $ 0.81
Income from discontinued operations ......... 0.01 0.04 0.03 0.10
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Net income ....................... $ 0.39 $ 0.36 $ 1.04 $ 0.91
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