EXHIBIT 11
CHESAPEAKE ENERGY CORPORATION AND SUBSIDIARIES
STATEMENT OF NET INCOME PER SHARE
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($ in thousands, except per share)
(Unaudited)
Three Months Ended
September 30,
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1996 1995
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PRIMARY INCOME PER SHARE
Computation for statement of income
Net income per statement of income $ 8,204 $ 2,915
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Common shares outstanding 30,126 26,404
Adjustment to weighted average
common shares outstanding:
Add dilutive effect of:
Employee Options 2,003 2,122
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Weighted average common shares and common
equivalent shares outstanding, as adjusted 32,129 28,526
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Net income per common share,
as adjusted $ .26 $ .10
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FULLY DILUTED INCOME PER SHARE
Net income applicable to common stock as
shown in primary computation above $ 8,204 $ 2,915
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Common shares outstanding 30,126 26,404
Adjustment to weighted average
common shares outstanding:
Add fully dilutive effect of:
Employee Options 2,043 2,368
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Weighted average common shares and common
equivalent shares outstanding, as adjusted 32,169 28,772
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Fully diluted net income per common share $ .26 $ .10
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