KRONOS INCORPORATED EXHIBIT 11 - Statement re Computation of Per Share Earnings (In thousands, except share and per share amounts) September 30, --------------------------------------------- 1996 1995 1994 ------------- ------------- ------------- Income before change in accounting principle $11,425 $8,398 $4,892 Cumulative effect of change in accounting principle ------------- ------------- ------------- Net income $11,425 $8,398 $4,892 ============= ============= ============= Net income per common share: Primary: Weighted average shares outstanding 8,041,428 7,824,279 7,653,387 Common Stock equivalents 288,632 326,624 206,126 ------------- ------------- ------------- Total 8,330,060 8,150,903 7,859,513 ============= ============= ============= Income before change in accounting principle $1.37 $1.03 $0.62 Cumulative effect of change in accounting principle ------------- ------------- ------------- Net income per common share $1.37 $1.03 $0.62 ============= ============= ============= Fully diluted: Weighted average shares outstanding 8,041,428 7,824,279 7,653,387 Common Stock equivalents 301,846 332,702 234,924 ------------- ------------- ------------- Total 8,343,274 8,156,981 7,888,311 ============= ============= ============= Income before change in accounting principle $1.37 $1.03 $0.62 Cumulative effect of change in accounting principle ------------- ------------- ------------- Net income per common share $1.37 $1.03 $0.62 ============= ============= =============