Exhibit 11.1
CONNER PERIPHERALS, INC.
STATEMENT REGARDING COMPUTATION OF EARNINGS PER SHARE
(In Thousands, Except Per Share Data)
Three months ended Nine months ended
September 30, September 30,
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1995 1994 1995 1994
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Primary:
Weighted average shares outstanding 53,404 51,800 52,964 51,393
Net effect of dilutive stock options 836 409 507 782
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Total 54,240 52,209 53,471 52,175
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Net income $13,404 $10,230 $36,398 $65,504
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Earnings per share $ 0.25 $ 0.20 $ 0.68 $ 1.26
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Fully diluted:
Weighted average shares outstanding 53,404 51,800 52,964 51,393
Net effect of dilutive stock options 1,351 409 1,401 790
Assumed conversion of:
6.75% Subordinated Convertible 7,221 NA NA 7,931
Debentures
6.5% Subordinated Convertible 12,895 NA NA 14,375
Debentures ------ ------ ----- ------
Total 74,871 52,209 54,365 74,489
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Net income $13,404 $10,230 $36,398 $65,504
Add:
6.75% Subordinated Convertible
Debenture interest, net of income
taxes 2,085 NA NA 6,870
6.5% Subordinated Convertible
Debenture interest, net of income
taxes 2,967 NA NA 9,923
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Total $18,456 $10,230 $36,398 $82,297
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Earnings per share $ 0.25 $ 0.20 $ 0.67 $ 1.10
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NA - not applicable, item is anti-dilutive and therefore excluded from the
calculation of earnings per share