EXHIBIT 11
QUIXOTE CORPORATION AND SUBSIDIARIES
Computation of Net Earnings Per Average Common
and Common Equivalent Share
For the Three Months Ended
December 31, 1994
--------------------------
Fully
Primary Diluted
---------- ----------
Net earnings as reported $877,000 $ 877,000
Add interest expense and deferred charge
amortization (net of income taxes) 245,000 (1)
-------- ----------
Adjusted net earnings for computation (A) $877,000 $1,122,000
======== ==========
Average common shares outstanding would be
adjusted for the additional shares that
would be issued assuming conversion of the
debentures and exercise of stock options
as follows:
Weighted average shares outstanding 7,815,798 7,815,798
Shares assumed issued upon conversion of
debentures 1,051,316
Incremental shares outstanding assuming
exercise of stock options using the
treasury stock method 365,388 365,388
--------- ---------
Average common and common equivalent shares
outstanding (B) 8,181,186 9,232,502
========= =========
Net earnings per common and common
equivalent share (A/B) $.11 $.12
==== ====
Notes:
<FN>
(1) Net earnings for the fully diluted calculation are adjusted for interest
expense and deferred charge amortization, assuming exercise of the conversion
privilege on the 8% convertible debentures.
(2) Given the anti-dilutive effect of this calculation, the amount disclosed in
the Consolidated Condensed Statements of Operations for fully diluted earnings
per share is the same as primary earnings per share.
-14-
EXHIBIT 11
QUIXOTE CORPORATION AND SUBSIDIARIES
Computation of Net Earnings Per Average Common
and Common Equivalent Share
For the Three Months Ended
December 31, 1993
--------------------------
Fully
Primary Diluted
---------- ----------
Net earnings as reported $3,226,000 $3,226,000
Add interest expense and deferred charge
amortization (net of income taxes) 245,000 (1)
---------- ----------
Adjusted net earnings for computation (A) $3,226,000 $3,471,000
========== ==========
Average common shares outstanding would be
adjusted for the additional shares that
would be issued assuming conversion of the
debentures and exercise of stock options
as follows:
Weighted average shares outstanding 7,605,014 7,605,014
Shares assumed issued upon conversion of
debentures 1,052,632
Incremental shares outstanding assuming
exercise of stock options using the
treasury stock method 343,429 428,759
Shares issuable for retirement plan 34,679 34,679
--------- ---------
Average common and common equivalent shares
outstanding (B) 7,983,122 9,121,084
========= =========
Net earnings per common and common
equivalent share (A/B) $.40 $.38
========= =========
Notes:
<FN>
(1) Net earnings for the fully diluted calculation are adjusted for interest
expense and deferred charge amortization, assuming exercise of the conversion
privilege on the 8% convertible debentures.
-15-
EXHIBIT 11
QUIXOTE CORPORATION AND SUBSIDIARIES
Computation of Net Earnings Per Average Common
and Common Equivalent Share
For the Six Months Ended
December 31, 1994
-------------------------
Fully
Primary Diluted
---------- ----------
Net earnings as reported $2,965,000 $2,965,000
Add interest expense and deferred charge
amortization (net of income taxes) 491,000 (1)
---------- ----------
Adjusted net earnings for computation (A) $2,965,000 $3,456,000
========== ==========
Average common shares outstanding would be
adjusted for the additional shares that
would be issued assuming conversion of the
debentures and exercise of stock options
as follows:
Weighted average shares outstanding 7,813,127 7,813,127
Shares assumed issued upon conversion of
debentures 1,051,316
Incremental shares outstanding assuming
exercise of stock options using the
treasury stock method 365,388 365,388
--------- ---------
Average common and common equivalent shares
outstanding (B) 8,178,515 9,229,831
========= =========
Net earnings per common and common
equivalent shares (A/B) $.36 $.37
==== ====
Notes:
<FN>
(1) Net earnings for the full diluted calculation are adjusted for interest
expense and deferred charge amortization, assuming exercise of the conversion
privilege on the 8% convertible debentures.
(2) Given the anti-dilutive effect of this calculation, the amount disclosed in
the Consolidated Condensed Statements of Operations for fully diluted earnings
per share is the same as primary earnings per share.
-16-
EXHIBIT 11
QUIXOTE CORPORATION AND SUBSIDIARIES
Computation of Net Earnings per Average Common
and Common Equivalent Share
For the Six Months Ended
December 31, 1993
-------------------------
Fully
Primary Diluted
---------- ----------
Net earnings as reported $5,665,000 $5,665,000
Add interest expense and deferred charge
amortization (net of income taxes) 491,000 (1)
---------- ----------
Adjusted net earnings for computation (A) $5,665,000 $6,156,000
========== ==========
Average common shares outstanding would be
adjusted for the additional shares that
would be issued assuming conversion of the
debentures and exercise of stock options
as follows:
Weighted average shares outstanding 7,618,684 7,618,684
Shares assumed issued upon conversion of
debentures 1,052,632
Incremental shares outstanding assuming
exercise of stock options using the
treasury stock method 343,429 428,759
Shares issuable for retirement plan 34,679 34,679
--------- ---------
Average common and common equivalent shares
outstanding (B) 7,996,792 9,134,754
========= =========
Net earnings per common and common
equivalent shares (A/B) $.71 $.67
==== ====
Notes:
<FN>
(1) Net earnings for the full diluted calculation are adjusted for interest
expense and deferred charge amortization, assuming exercise of the conversion
privilege on the 8% convertible debentures.
-17-