Exhibit 11.1
Renal Treatment Centers, Inc. and Subsidiaries
COMPUTATION OF NET INCOME PER COMMON SHARE AND NET INCOME PER
COMMON SHARE--ASSUMING DILUTION
for the quarter ended March 31, 1997 and 1996
Three Months Ended
March 31,
1997 1996
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Reconciliation of numerator:
Net income for use in computing net income
per common share $ 3,963,116 $ 1,458,597
Add back interest on note, tax effected 34,122 67,665
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Adjusted net income for use in computing
net income per common share--assuming dilution $ 3,997,238 $ 1,526,262
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Reconciliation of denominator
Weighted average number of shares outstanding for
use in computing net income per common share 24,509,763 24,036,542
Weighted average shares assumed issued upon
conversion of note 441,191 661,501
Dilutive effect of outstanding stock options 751,657 766,102
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Weighted average number of common shares and
equivalents outstanding--assuming dilution 25,702,611 25,464,145
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Net income per common share $ 0.15 $ 0.06
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Net income per common share--assuming dilution $ 0.15 $ 0.06
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