EXHIBIT 11
CHATTEM, INC. AND SUBSIDIARIES
STATEMENT REGARDING COMPUTATION OF PER SHARE EARNINGS
FOR THE YEARS ENDED NOVEMBER 30, 1999, 1998 AND 1997
(IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)
1999 1998 1997
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NET INCOME:
Income before extraordinary loss . . . . . . $ 22,541 $ 18,128 $ 7,016
Extraordinary loss . . . . . . . . . . . . . (2,385) (2,859) (1,131)
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Net income . . . . . . . . . . . . . $ 20,156 $ 15,269 $ 5,885
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COMMON SHARES:
Weighted average number outstanding . . . . 9,747 9,374 8,793
Number issued upon assumed exercise of
outstanding stock options and stock
warrants . . . . . . . . . . . . . . . . . 277 361 330
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Weighted average number of common and
common equivalent shares outstanding. . . 10,024 9,735 9,123
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NET INCOME (LOSS) PER COMMON SHARE:
Basic:
Income before extraordinary loss . . . . . $ 2.31 $ 1.93 $ .80
Extraordinary loss . . . . . . . . . . . . (.24) (.30) (.13)
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Total basic . . . . . . . . . . . . . $ 2.07 $ 1.63 $ .67
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Diluted:
Income before extraordinary loss . . . . . $ 2.25 $ 1.86 $ .77
Extraordinary loss . . . . . . . . . . . . (.24) (.29) (.12)
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Total diluted . . . . . . . . . . . . $ 2.01 $ 1.57 $ .65
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