THE UNION CORPORATION AND SUBSIDIARIES Item 6
EXHIBIT 11
Computation of Primary and Fully Diluted
Earnings Per Share (Unaudited)
(Dollars in thousands, except per share amounts)
Nine Months Ended March 31,
---------------------------------------------------------------------------------------
1996 1995
----------------------------------------- ------------------------------------------
Income Income
Number of Net of Per Share Number of Net of Per Share
Shares Taxes Amount Shares Taxes Amount
---------- ---------- ---------- ---------- ---------- ----------
PRIMARY EARNINGS:
Average common shares (based
on weighted average number
of shares outstanding) 5,596,870 5,550,376
Common stock equivalents
(stock options) 169,328 98,640
---------- ----------
Income from continuing
operations 5,766,198 $ 4,268 $ .74 5,649,016 $ 3,619 $ .64
---------- ----------
---------- ----------
Discontinued operations loss
provision (net of tax) 5,766,198 (2,065) (.36) 5,649,016 (5,200) (.92)
---------- ---------- ---------- ---------- ---------- ----------
---------- ----------
Net income (loss) 5,766,198 $ 2,203 $ .38 5,649,016 $(1,581) $ (.28)
---------- ---------- ---------- ---------- ---------- ----------
---------- ---------- ---------- ---------- ---------- ----------
FULLY DILUTED EARNINGS:
Average common shares (based
on weighted average number
of shares outstanding) 5,596,870 5,550,376
Common stock equivalents
(stock options) 193,108 108,963
---------- ----------
Income from continuing
operations 5,789,978 $ 4,268 $ .74 5,659,339 $ 3,619 $ .64
---------- ----------
---------- ----------
Discontinued operations loss
provision (net of tax) 5,789,978 (2,065) (.36) 5,659,339 (5,200) (.92)
---------- ---------- ---------- ---------- ---------- ----------
---------- ----------
Net income (loss) 5,789,978 $ 2,203 $ .38 5,659,339 $(1,581) $ (.28)
---------- ---------- ---------- ---------- ---------- ----------
---------- ---------- ---------- ---------- ---------- ----------
THE UNION CORPORATION AND SUBSIDIARIES Item 6
EXHIBIT 11
Computation of Primary and Fully
Diluted Earnings Per Share (Unaudited)
(Dollars in thousands, except per share amounts)
Three Months Ended March 31,
---------------------------------------------------------------------------------------
1996 1995
----------------------------------------- ------------------------------------------
Income Income
Number of Net of Per Share Number of Net of Per Share
Shares Taxes Amount Shares Taxes Amount
---------- ---------- ---------- ---------- ---------- ----------
PRIMARY EARNINGS:
Average common shares (based
on weighted average number
of shares outstanding) 5,629,735 5,578,102
Common stock equivalents
(stock options) 195,030 90,765
---------- ----------
Income from continuing
operations 5,824,765 $ 2,093 $ .36 5,668,867 $ 1,398 $ .25
---------- ----------
---------- ----------
Discontinued operations loss
provision (net of tax) 5,824,765 - - 5,668,867 (5,200) (.92)
---------- ---------- ---------- ---------- ---------- ----------
---------- ----------
Net income (loss) 5,824,765 $ 2,093 $ .36 5,668,867 $(3,802) $ (.67)
---------- ---------- ---------- ---------- ---------- ----------
---------- ---------- ---------- ---------- ---------- ----------
FULLY DILUTED EARNINGS:
Average common shares (based
on weighted average number
of shares outstanding) 5,629,735 5,578,102
Common stock equivalents
(stock options) 195,880 90,765
---------- ----------
Income from continuing
operations 5,825,615 $ 2,093 $ .36 5,668,867 $ 1,398 $ .25
---------- ----------
---------- ----------
Discontinued operations loss
provision (net of tax) 5,825,615 - - 5,668,867 (5,200) (.92)
---------- ---------- ---------- ---------- ---------- ----------
---------- ----------
Net income (loss) 5,825,615 $ 2,093 $ .36 5,668,867 $(3,802) $(.67)
---------- ---------- ---------- ---------- ---------- ----------
---------- ---------- ---------- ---------- ---------- ----------