Exhibit 11.1
CONNER PERIPHERALS, INC.
STATEMENT REGARDING COMPUTATION OF EARNINGS PER SHARE
(In Thousands, Except Per Share Data)
Three months ended Six months ended
June 30, June 30,
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1995 1994 1995 1994
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Primary:
Weighted average shares outstanding 53,023 51,660 52,745 51,190
Net effect of dilutive stock options 439 740 349 1,018
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Total 53,462 52,400 53,094 52,208
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Net income $18,375 $31,470 $22,994 $55,274
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Earnings per share $ 0.34 $ 0.60 $ 0.43 $ 1.06
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Fully diluted:
Weighted average shares outstanding 53,023 51,660 52,745 51,190
Net effect of dilutive stock options 595 746 595 1,023
Assumed conversion of:
6.75% Subordinated Convertible Debentures 7,221 7,931 NA 7,931
6.5% Subordinated Convertible Debentures 12,895 14,375 NA 14,375
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Total 73,734 74,712 53,340 74,519
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Net income $18,375 $31,470 $22,994 $55,274
Add:
6.75% Subordinated Convertible Debenture
interest, net of income taxes 2,085 2,290 NA 4,580
6.5% Subordinated Convertible Debenture
interest, net of income taxes 2,967 3,308 NA 6,615
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Total $23,427 $37,068 $22,994 $66,469
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Earnings per share $ 0.32 $ 0.50 $ 0.43 $ 0.89
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NA - not applicable, item is anti-dilutive and therefore excluded from the
calculation of earnings per share