CHESAPEAKE ENERGY CORPORATION AND SUBSIDIARIES
STATEMENT OF NET INCOME PER SHARE
(in thousands, except per share)
Three Months Ended Six Months Ended
December 31, December 31,
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1996 1995 1996 1995
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PRIMARY INCOME PER SHARE
Computation for statement of income
Net income per statement of income
Income before extraordinary item $ 16,717 $ 5,459 $ 24,921 $ 8,375
Extraordinary item (6,443) - (6,443) -
Net income $ 10,274 $ 5,459 $ 18,478 $ 8,375
Weighted average
Common shares outstanding 63,774 53,136 61,985 53,136
Adjustment to weighted average
common shares outstanding:
Add dilutive effect of:
Employee Options 4,334 4,318 4,315 4,012
Weighted average common shares and common
equivalent shares outstanding, as adjusted 68,108 57,454 66,300 57,148
Primary net income per common share:
Income before extraordinary item $ .25 $ .10 $ .38 $ .15
Extraordinary item (.10) - (.10) -
Net income $ .15 $ .10 $ .28 $ .15
FULLY DILUTED INCOME PER SHARE
Net income per statement of income
Income before extraordinary item $ 16,717 $ 5,459 $ 24,921 $ 8,375
Extraordinary item (6,443) - (6,443) -
Net income $ 10,274 $ 5,459 $ 18,478 $ 8,375
Weighted average
Common shares outstanding 63,774 53,136 61,985 53,136
Adjustment to weighted average
common shares outstanding:
Add fully dilutive effect of:
Employee Options 4,334 4,908 4,315 4,832
Weighted average common shares and common
equivalent shares outstanding, as adjusted 68,108 58,044 66,300 57,968
Fully diluted net income per common share:
Income before extraordinary item $ .25 $ .09 $ .38 $ .14
Extraordinary item (.10) - (.10) -
Net income $ .15 $ .09 $ .28 $ .14