EXHIBIT 11
ENZO BIOCHEM, INC.
COMPUTATION OF PER-SHARE EARNINGS
Years ended July 31, 1996, 1995 and 1994
1996* 1995* 1994*
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Primary
Average shares outstanding 22,593,000 22,005,200 21,469,200
Net effect of dilutive stock options and
warrants -- based on the treasury stock
method using average market price -- 1,069,900 1,158,400
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Total 22,593,000 23,075,100 22,627,600
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Income (loss) before extraordinary items $(7,707,500) $ 5,618,100 $ 5,101,200
Extraordinary gain -- -- 150,000
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Net income (loss) $(7,707,500) $ 5,618,100 $ 5,251,200
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Per common and common equivalent share
Income (loss) before extraordinary item ($.34) $.24 $.22
Extraordinary gain -- -- .01
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Net income (loss) ($.34) $.24 $.23
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*Shares and per share amounts have been adjusted for the 5% stock dividend
declared in fiscal 1995 and for the 5% stock dividend declared in September
1996.
E-25