EXHIBIT 11
SCHOLASTIC CORPORATION
COMPUTATION OF NET INCOME PER CLASS A, COMMON AND CLASS A
SHARE AND COMMON SHARE EQUIVALENTS
(Amounts in thousands except shares and per share data)
Three Months Ended Six Months Ended
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November 30, November 30, November 30, November 30,
1996 1995 1996 1995
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(Unaudited) (Unaudited)
Net income used for primary earnings per
share $ 38,470 $ 31,122 $ 24,479 $ 21,330
Net interest savings from assumed conversion
of Convertible Subordinated Debentures 853 853 1,705 995
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Net income used for fully diluted earnings
per share $ 39,323 $ 31,975 $ 26,184 $ 22,325
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Primary:
Weighted average Class A and Common
Shares outstanding 15,946,780 15,761,145 15,915,111 15,733,686
Common Share equivalents arising from
outstanding options computed on the
treasury stock method 375,694 419,105 339,277 366,480
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Primary Class A, Common and Class A
Share and Common Share Equivalents
outstanding 16,322,474 16,180,250 16,254,388 16,100,166
Fully Diluted:
Additional dilutive effect of outstanding
options computed on the treasury stock
method 24,159 46,360 56,573 73,652
Assumed conversion of Convertible
Subordinated Debentures 1,434,155 1,434,155 1,452,045 834,851
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Fully diluted Class A, Common and Class
A Share and Common Share Equivalents
outstanding 17,780,788 17,660,765 17,763,006 17,008,669
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Primary earnings per share $ 2.36 $ 1.92 $ 1.51 $ 1.32
Fully diluted earnings per share $ 2.21 $ 1.81 $ 1.47 $ 1.31