EXHIBIT 11
AMERICAN ONCOLOGY RESOURCES, INC.
STATEMENT RE-COMPUTATION OF PER SHARE EARNINGS
(IN THOUSANDS EXCEPT PER SHARE AMOUNTS)
(UNAUDITED)
THREE MONTHS NINE MONTHS
ENDED SEPT. 30, ENDED SEPT. 30,
1996 1995 1996 1995
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NET INCOME $ 4,303 $ 4,654 $12,810 $ 7,704
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OUTSTANDING AT END OF PERIOD:
Shares of Common Stock 28,360 27,476 28,360 27,476
Commitments to issue Common Stock at
specific future dates 16,999 14,252 16,999 14,252
Effect of weighting (637) (232) (1,438) (7,498)
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44,722 41,496 43,921 34,230
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Options to purchase Common Stock 5,128 5,128
Effect of treasury stock method (2,402) (1,602)
Dilutive effect of options to purchase
Common Stock granted April 1, 1994 and
prior - 1,296 - 1,122
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Additional assumed shares for 1994 and
1995 grants and issuancesat less than
the initial public offering price:
Options to purchase Common Stock 3,570 3,570
Effect of treasury stock method - (732) - (1,044)
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- 2,838 - 2,526
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Total shares used in per share
calculation 47,448 45,630 47,447 37,878
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Net income per share $0.09 $0.10 $ 0.18 $ 0.20
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ASSUMING FULL DILUTION:
Outstanding per above 47,448 45,630 47,447 37,878
Additional dilution resulting from use
of period end price per share if
higher than average 132 160 44 280
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Total shares used in per share 47,580 45,790 47,491 38,158
calculation ======= ======= ======= =======
Net income per share $0.09 $0.10 $ 0.27 $ 0.20
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