TOLL BROTHERS, INC. & SUBSIDIARIES EXHIBIT 11
STATEMENT: COMPUTATION OF EARNINGS PER SHARE
Six Months Six Months
ended April 30 ended April 30
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1995 1994
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Net income per income statement $17,704,000 $12,855,000
Addback: Interest on convertible
debentures, net of income taxes 795,000 320,000
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Net income (Fully-diluted) $18,499,000 $13,175,000
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Earnings per share:
Primary $ 0.53 $ 0.38
Fully-diluted $ 0.51 $ 0.37
PRIMARY SHARES:
Weighted average shares outstanding 33,447,960 33,376,043
Common stock equivalents - stock options 168,995 332,268
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TOTAL 33,616,955 33,708,311
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FULLY-DILUTED SHARES:
Weighted average shares outstanding 33,447,734 33,375,447
Common stock equivalents - stock options 191,253 386,354
Shares issuable on conversion of
subordinated debentures 2,456,466 1,473,932
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TOTAL 36,095,453 35,235,733
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Three Months Three Months
ended April 30 ended April 30
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1995 1994
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Net income per income statement $ 9,445,000 $ 4,350,000
Addback: Interest on convertible
debentures, net of income taxes 395,000 271,000
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Net income (Fully diluted) $ 9,840,000 $ 4,621,000
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Earnings per share:
Primary $ 0.28 $ 0.13
Fully Diluted $ 0.27 $ 0.13
PRIMARY SHARES:
Weighted average shares outstanding 33,461,796 33,412,331
Common stock equivalents - stock options 245,269 263,805
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TOTAL 33,707,065 33,676,136
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FULLY-DILUTED SHARES:
Weighted average shares outstanding 33,461,796 33,412,331
Common stock equivalents - stock options 245,286 263,788
Shares issuable on conversion of
subordinated debentures 2,445,931 2,641,095
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TOTAL 36,153,013 35,235,733
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