VK/AC HOLDING, INC. AND SUBSIDIARIES
Computation of Earnings Per Share
(In 000's except per share data)
Three Months Ended June 30, Six Months Ended June 30,
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1996 1995 1996 1995
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Primary Fully Diluted Primary Fully Diluted Primary Fully Diluted Primary Fully Diluted
Net Income $13,894 $13,894 $6,582 $6,582 29,053 29,053 12,450 12,450
Less Accretion to Redemption Value (14,888) (14,888) 0 0 (14,888) (14,888) (1,620) (1,620)
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Net Income (Loss) Available to
Common Stockholders (994) (994) 6,582 6,582 14,165 14,165 10,830 10,830
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Weighted Average Common Shares 2,434 2,434 2,410 2,410 2,434 2,434 2,406 2,406
Effect of Stock Options Calculated
According to Treasury Stock Method 145 180 93 93 145 181 98 98
Preferred Shares Convertible into
Common Shares 33 33 33 33 33 33 33 33
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Weighted Average Number of Common
and Common Equivalent Shares
Outstanding 2,612 2,647 2,536 2,536 2,612 2,648 2,537 2,537
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Earnings (Loss) Per Share ($0.38) ($0.38) $2.60 $2.60 $5.42 $5.35 $4.27 $4.27
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