EXHIBIT 11
CALCULATION OF EARNINGS PER COMMON SHARE
REEVES INDUSTRIES, INC. AND SUBSIDIARY
YEAR ENDED DECEMBER 31,
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1991 1992 1993
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(IN THOUSANDS, EXCEPT PER
SHARE DATA)
Income from continuing operations........................... $ 4,544 $ 5,976 $ 7,857
Adjustments
Preferred dividends....................................... (298)
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Income from continuing operations attributable to common
shares..................................................... 4,246 5,976 7,857
Net gain on disposal of discontinued operations............. 2,830
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Income before extraordinary item and cumulative effect of a
change in accounting principle attributable to common
shares..................................................... 7,076 5,976 7,857
Extraordinary loss from early extinguishment of debt........ (6,112)
Cumulative effect of a change in accounting principle....... 3,221
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Net income attributable to common shares.................... $ 7,076 $ 3,085 $ 7,857
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Primary and fully diluted earnings
per common share:
Income from continuing operations........................... $ .23 $ .16 $ .22
Income before extraordinary item and cumulative effect of a
change in accounting principle............................. .39 .16 .22
Cumulative effect of a change in accounting principle....... .09
Net income.................................................. .39 .08 .22
Weighted average common shares
primary and fully diluted.................................. 18,118 36,724 34,978
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