RIDDELL SPORTS INC. EXHIBIT 11.1
STATEMENT OF COMPUTATION OF EARNINGS PER SHARE
Twelve Months Ended Dec. 31,
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1996 1995 1994
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Primary earnings per share:
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Weighted average common shares out-
standing during period 8,067,985 8,067,985 7,973,952
Common shares equivalents of dilutive
stock options based on treasury
stock method using average market
price for quarter 359,648 0 0
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Average common shares and equivalents 8,427,633 8,067,985 7,973,952
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Income (loss) before extraordinary item $ 2,843,176 $ 2,370,534 ($4,932,947)
Extraordinary item (1,900,000)
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Net income for the period $ 2,843,176 $ 470,534 ($4,932,947)
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Per Share Amounts:
Income (loss) before extraordinary
item $ 0.34 $ 0.29 ($ 0.62)
Extraordinary item -- (0.23) --
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Net income for the period $ 0.34 $ 0.06 ($ 0.62)
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Fully diluted earnings per share:
- ---------------------------------------------
Weighted average common shares out-
standing during period 8,067,985 8,067,985 7,973,952
Common shares equivalents of dilutive
stock options based on treasury stock
method using higher of quarter ending
market price or average quarterly
market price 411,306 0 0
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Average common shares and equivalents 8,479,291 8,067,985 7,973,952
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Income (loss) before extraordinary item $ 2,843,176 $ 2,370,534 ($4,932,947)
Extraordinary item (1,900,000)
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Net income for the period $ 2,843,176 $ 470,534 ($4,932,947)
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Per Share Amounts:
Income (loss) before extraordinary $ 0.34 $ 0.29 ($ 0.62)
item
Extraordinary item -- (0.23) --
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Net income for period $ 0.34 $ 0.06 ($ 0.62)
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