EXHIBIT 11
CHARTER MEDICAL CORPORATION AND SUBSIDIARIES
COMPUTATION OF EARNINGS PER SHARE
Earnings (Loss) per common share were calculated using the weighted average
of common stock shares outstanding. Common stock equivalents would have been
antidilutive, and were therefore not included in the calculation.
Earnings per common share and common equivalent share and Earnings per
common share assuming full dilution were calculated using the weighted average
of common shares outstanding and common stock equivalents (stock options and
warrants) assumed outstanding during the year.
FOR THE TWO MONTHS ACTUAL
ENDED FOR THE YEAR ENDED FOR THE SIX MONTHS
SEPTEMBER 30, 1992 SEPTEMBER 30, 1993 ENDED MARCH 31,
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ACTUAL ACTUAL PRO FORMA 1993 1994
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(IN THOUSANDS)
Loss from continuing operations before
extraordinary item............................... $ (8,126) $ (39,620) $ (5,206) $ (20,907) $ (2,743)
Income (Loss) from discontinued operations and
gain on disposal of discontinued operations...... 930 (4,046) 0 (6,008) 0
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Loss before extraordinary item.................... (7,196) (43,666) (5,206) (26,915) (2,743)
Extraordinary loss on early extinguishment
of debt.......................................... 0 (8,561) 0 0 0
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Net loss.......................................... $ (7,196) $ (52,227) $ (5,206) $ (26,915) $ (2,743)
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Weighted average number of common
shares outstanding............................... 24,828 24,875 24,875 24,842 25,936
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Earnings (Loss) per common share:
Loss from continuing operations before
extraordinary items............................ $ (0.33) $ (1.59) $ (0.21) $ (0.84) $ (0.11)
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Income (Loss) from discontinued operations and
gain on disposal of discontinued operations...... 0.04 (0.16) (0.24) 0.00
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Loss before extraordinary item.................... (0.29) (1.75) (1.08) (0.11)
Extraordinary loss on early extinguishment
of debt.......................................... 0.00 (0.35) 0.00 0.00
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Net loss.......................................... $ (0.29) $ (2.10) $ (1.08) $ (0.11)
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PRO FORMA
FOR THE SIX
MONTHS ENDED
MARCH 31, 1994
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Income from continuing operations................................................................. $ 1,402
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Weighted average number of common shares outstanding.............................................. 25,936
Incremental shares -- Stock options and warrants.................................................. 1,399
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Total for Earnings per common share and common equivalent share................................... 27,335
Incremental shares -- Stock options and warrants.................................................. 15
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Total for Earnings per common share assuming full dilution........................................ 27,350
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Earnings per common share and common equivalent share............................................. $ 0.05
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Earnings per common share assuming full dilution.................................................. $ 0.05
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