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 SEPTEMBER 30, ENDED SEPTEMBER 30,
1997 1996 1997 1996
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NET INCOME............................................ $ 5,910 $ 4,303 $16,701 $12,810
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OUTSTANDING AT END OF PERIOD:
Shares of Common Stock.............................. 29,014 28,360 29,014 28,360
Commitments to issue Common Stock at specific
future dates....................................... 16,815 16,999 16,815 16,999
Effect of weighting................................. (178) (637) (592) (1,438)
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45,651 44,722 45,237 43,921
Options to purchase Common Stock...................... 5,817 5,128 5,817 5,128
Effect of treasury stock method....................... (3,193) (2,402) (3,022) (1,602)
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Total shares used in per share calculation............ 48,275 47,448 48,032 47,447
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Net income per share.................................. $0.12 $0.09 $0.35 $0.27
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ASSUMING FULL DILUTION:
Outstanding per above............................... 48,275 47,448 48,032 47,447
Additional dilution resulting from use of period
end price per share if higher than average......... 61 132 21 44
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Total shares used in per share calculation............ 48,336 47,580 48,053 47,491
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Net income per share.................................. $0.12 $0.09 $0.35 $0.27
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