EXHIBIT 11
CHATTEM, INC. AND SUBSIDIARIES
STATEMENT REGARDING COMPUTATION OF PER SHARE EARNINGS
(UNAUDITED AND IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)
FOR THE THREE MONTHS ENDED FOR THE SIX MONTHS ENDED
MAY 31, MAY 31,
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1996 1995 1996 1995
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NET INCOME:
Continuing operations............ $ 2,010 $ 670 $ 1,973 $ 59
Discontinued operations.......... -- 10,177 -- 10,538
Extraordinary loss............... (532) (367) (532) (367)
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Net Income..................... $ 1,478 $ 10,480 $ 1,441 $ 10,230
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WEIGHTED AVERAGE NUMBER OF
COMMON AND COMMON EQUIVALENT
SHARES OUTSTANDING............... 7,794 7,292 7,547 7,292
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NET INCOME PER COMMON SHARE:
Continuing operations............ $ 0.26 $ 0.09 $ 0.26 $ 0.01
Discontinued operations.......... -- 1.40 -- 1.44
Extraordinary loss............... (0.07) (0.05) (0.07) (0.05)
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Net income per common share.... $ 0.19 $ 1.44 $ 0.19 $ 1.40
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