Mycogen Corporation Exhibit 11 Statements re Computation of Per Share Earnings (Amounts in thousands, except per share data) Three months ended March 31, 1995 1994 ------- ------- Net income....................................... $ 8,303 $11,423 Dividends on preferred stock..................... (375) (357) ------- ------- Net income applicable to common shares........... 7,928 11,066 Adjustment for dividends on preferred stock...... 375 357(1) ------- ------- Net income for computation assuming full dilution.................................. $ 8,303 $11,423 ======= ======= Weighted average number of shares outstanding: Average common shares for computation of primary net income per common share......... 19,205 19,036 Stock option equivalent shares................... 454 178(1)(2) Conversion of preferred shares................... 1,671 1,596(1) ------- ------- Average shares for computation of net income per common share assuming full dilution........ 21,330 20,810 ======= ======= Net income per common share: Primary........................................ $ .41 $ .58 ======= ======= Assuming full dilution......................... $ .39 $ .55 ======= ======= (1) Additional shares from stock option equivalents and the conversion of preferred stock and respective adjustments for period stock dividends were not included in the calculation assuming full dilution where the effect was antidilutive or the dilution was less than 3%. (2) Additional shares from stock option equivalents were not included in the calculation of primary net income per common share where the dilutive effect was less than 3%.