Mycogen Corporation Exhibit 11 Statements re Computation of Per Share Earnings (Amounts in thousands, except per share data) Three months ended Six months ended June 30, June 30, 1995 1994 1995 1994 ----------- ---------- ---------- -------- Net income (loss)..................................... $ (4,218) $ 6,021 $ 4,085 $ 17,444 Dividends on preferred stock.......................... (379) (361) (754) (718) ----------- ---------- ---------- -------- Net income (loss) applicable to common shares......... (4,597) 5,660 3,331 16,726 Adjustment for dividends on preferred stock........... - (1) 361 - (1) 718 ----------- ---------- ---------- -------- Net income (loss) for computation assuming full dilution....................................... $ (4,597) $ 6,021 $ 3,331 $ 17,444 =========== ========== ========== ======== Weighted average number of shares outstanding: Average common shares for computation of primary net income (loss) per common share (2)... 19,315 19,066 19,261 19,051 Stock option equivalent shares........................ - (2) 174 - (2) 176 Conversion of preferred shares........................ - (1) 1,609 - (1) 1,602 ----------- ---------- ---------- -------- Average shares for computation of net income (loss) per common share assuming full dilution............. 19,315 20,849 19,261 20,829 =========== ========== ========== ======== Net income (loss) per common share: Primary............................................. $ (.24) $ .30 $ .17 $ .88 =========== ========== ========== ======== Assuming full dilution.............................. $ (.24) $ .29 $ .17 $ .84 =========== ========== ========== ======== (1) Additional shares from the conversion of preferred stock and respective adjustments for preferred stock dividends were not included in the calculation assuming full dilution where the effect was antidilutive or the dilutive effect was less than 3%. (2) Additional shares from stock option equivalents were not included in the calculation of net income (loss) per common share where the effect was antidilutive or the dilutive effect was less than 3%.