Allied Capital Corporation II and Subsidiaries
Exhibit 11 Computation of Earnings Per Common Share
Form 10-Q
September 30, 1995
For the Three Months Ended For the Nine Months Ended
September 30, September 30,
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1995 1994 1995 1994
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Primary Earnings Per Share:
Net Increase in Net Assets Resulting
from Operations $ 6,211,000 $ 1,308,000 $ 14,802,000 $ 5,405,000
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Weighted average number of
shares outstanding 6,940,437 6,938,191 6,938,948 6,938,191
Weighted average number of
shares issuable on exercise
of outstanding stock options 37,369 4,247 20,564 1,188
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Weighted average number of shares and
share equivalents outstanding 6,977,806 6,942,438 6,959,512 6,939,379
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Earnings per Share $ 0.89 $ 0.19 $ 2.13 $ 0.78
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Fully Diluted Earnings Per Share:
Net Increase in Net Assets Resulting
from Operations $ 6,211,000 $ 1,308,000 $ 14,802,000 $ 5,405,000
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Weighted average number of
shares and share equivalents
outstanding as computed for
primary earnings per share 6,977,806 6,942,438 6,959,512 6,939,379
Weighted average of additional
shares issuable on exercise
of outstanding stock options 210 -- 14,270 --
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Weighted average of shares and
share equivalents outstanding, as adjusted 6,978,016 6,942,438 6,973,782 6,939,379
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Earnings per Share $ 0.89 $ 0.19 $ 2.12 $ 0.78
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