PREMIERE RADIO NETWORKS, INC.
EXHIBIT 11
COMPUTATION OF PER SHARE EARNINGS
Three Months Ended Six Months Ended
June 30, June 30,
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1996 1995 1996 1995
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PRIMARY EARNINGS PER SHARE:
Weighted average shares outstanding . . . . . . . . . 7,513,368 4,525,382 7,220,882 4,523,346
Net effect of dilutive stock options and warrants . . 2,099,531 287,814 2,049,035 253,005
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Total . . . . . . . . . . . . . . . . . . . . . . . . 9,612,899 4,813,196 9,269,917 4,776,351
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Net income. . . . . . . . . . . . . . . . . . . . . . $1,106,397 $755,867 $1,771,977 $1,386,046
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Per share amount. . . . . . . . . . . . . . . . . . . $0.12 $0.16 $0.19 $0.29
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FULLY DILUTED EARNINGS PER SHARE:
Weighted average shares outstanding . . . . . . . . . 7,513,368 4,525,382 7,220,882 4,523,346
Net effect of dilutive stock options and warrants . . 2,063,650 397,751 2,063,441 397,598
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Total . . . . . . . . . . . . . . . . . . . . . . . . 9,577,018 4,923,133 9,284,323 4,920,944
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Net income. . . . . . . . . . . . . . . . . . . . . . $1,106,397 $ 755,867 $1,771,977 $1,386,046
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Per share amount. . . . . . . . . . . . . . . . . . . $0.12 $0.15 $0.19 $0.28
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