EXHIBIT 11
ROBERTSON-CECO CORPORATION
COMPUTATION OF EARNINGS (LOSS) PER COMMON SHARE
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(Thousands, except per share amounts)
(Unaudited)
Three Months Ended Nine Months Ended
September 30 September 30
----------------- -------------------
1994 1993 1994 1993
-------- -------- -------- --------
PRIMARY:
Income (loss) from continuing
operations. . . . . . . . . . $ (9,373) $(10,878) $(13,966) $(23,265)
Less dividends on preferred
stock . . . . . . . . . . . . - - - 112
-------- -------- -------- --------
Primary income (loss) from
continuing operations . . . . (9,373) (10,878) (13,966) (23,377)
Loss from discontinued
operations. . . . . . . . . . (6,000) - (6,000) -
Income from extraordinary
gain on debt exchange . . . . - 5,367 - 5,367
-------- -------- -------- --------
Primary earnings (loss) . . . $(15,373) $ (5,511) $(19,966) $(18,010)
======== ======== ======== ========
Average number of shares of
common stock outstanding. . . 15,773 9,402 15,773 3,752
Incremental shares to reflect
dilutive effect of deferred
compensation plan . . . . . . - - - -
-------- -------- -------- --------
Total shares. . . . . . . . 15,773 9,402 15,773 3,752
======== ======== ======== ========
Primary earnings (loss) from
continuing operations per
common share. . . . . . . . . $ (.59) $ (1.16) $ (.89) $ (6.23)
Primary loss from discontinued
operations per common share . (.38) - (.38) -
Primary earnings from
extraordinary gain on debt
exchange per common share . . - .57 - 1.43
-------- -------- -------- --------
Primary earnings (loss) per
common share. . . . . . . . . $ (.97) $ (.59) $ (1.27) $ (4.80)
======== ======== ======== ========
[FN]
Share amounts are presented after giving effect to the 1 for 16.5 reverse
stock spilt which became effective July 23, 1993.