EXHIBIT 11
QUIXOTE CORPORATION AND SUBSIDIARIES
Computation of Net Earnings per Average Common
and Common Equivalent Share
For the Three Months Ended
December 31, 1996
-------------------------
Fully
Primary Diluted
---------- ----------
Net earnings as reported $1,039,000 $1,039,000
Add interest expense and deferred charge
amortization (net of income taxes) 221,000(1)
---------- ----------
Adjusted net earnings for computation (A) $1,039,000 $1,260,000
========== ==========
Average common shares outstanding would be
adjusted for the additional shares that
would be issued assuming conversion of the
debentures and exercise of stock options
as follows:
Weighted average shares outstanding 7,974,612 7,974,612
Shares assumed issued upon conversion of
debentures 947,368
Incremental shares outstanding assuming
exercise of stock options using the
treasury stock method 38,532 99,163
--------- ---------
Average common and common equivalent shares
outstanding (B) 8,013,144 9,021,143
========= =========
Net earnings per common and common
equivalent shares (A/B) $ .13 $ .14
========= =========
Notes:
(1) Net earnings for the fully diluted calculation are adjusted for interest
expense and deferred charge amortization, assuming exercise of the conversion
privilege on the 8% convertible debentures.
EXHIBIT 11
QUIXOTE CORPORATION AND SUBSIDIARIES
Computation of Net Earnings Per Average Common
and Common Equivalent Share
For the Six Months Ended
December 31, 1996
--------------------------
Fully
Primary Diluted
---------- ----------
Net earnings as reported $1,835,000 $1,835,000
Add interest expense and deferred charge
amortization (net of income taxes) 443,000(1)
---------- ----------
Adjusted net earnings for computation (A) $1,835,000 $2,278,000
========== ==========
Average common shares outstanding would be
adjusted for the additional shares that
would be issued assuming conversion of the
debentures and exercise of stock options
as follows:
Weighted average shares outstanding 7,970,957 7,970,957
Shares assumed issued upon conversion of
debentures 947,368
Incremental shares outstanding assuming
exercise of stock options using the
treasury stock method 38,532 99,163
--------- ---------
Average common and common equivalent shares
outstanding (B) 8,009,489 9,017,488
========= =========
Net earnings per common and common
equivalent share (A/B) $ .23 $ .25
========= =========
Notes:
(1) Net earnings for the fully diluted calculation are adjusted for interest
expense and deferred charge amortization, assuming exercise of the conversion
privilege on the 8% convertible debentures.
EXHIBIT 11
QUIXOTE CORPORATION AND SUBSIDIARIES
Computation of Net Earnings Per Average Common
and Common Equivalent Share
For the Three Months Ended
December 31, 1995
-------------------------
Fully
Primary Diluted
---------- ----------
Net earnings as reported $ 317,000 $ 317,000
Add interest expense and deferred charge
amortization (net of income taxes) 245,000(1)
---------- ----------
Adjusted net earnings for computation (A) $ 317,000 $ 562,000
========== ==========
Average common shares outstanding would be
adjusted for the additional shares that
would be issued assuming conversion of the
debentures and exercise of stock options
as follows:
Weighted average shares outstanding 7,863,168 7,863,168
Shares assumed issued upon conversion of
debentures 1,051,316
Incremental shares outstanding assuming
exercise of stock options using the
treasury stock method 126,579 126,579
--------- ---------
Average common and common equivalent shares
outstanding (B) 7,989,747 9,041,063
========= =========
Net earnings per common and common
equivalent shares (A/B) $ .04 $ .06
========= =========
Notes:
(1) Net earnings for the fully diluted calculation are adjusted for interest
expense and deferred charge amortization, assuming exercise of the conversion
privilege on the 8% convertible debentures.
EXHIBIT 11
QUIXOTE CORPORATION AND SUBSIDIARIES
Computation of Net Earnings Per Average Common
and Common Equivalent Share
For the Six Months Ended
December 31, 1995
--------------------------
Fully
Primary Diluted
---------- ----------
Net loss as reported $(10,245,000) $(10,245,000)
Add interest expense and deferred charge
amortization (net of income taxes) 490,000(1)
------------ -----------
-
Adjusted net loss for computation (A) $(10,245,000) $(9,755,000)
============ ============
Average common shares outstanding would be
adjusted for the additional shares that
would be issued assuming conversion of the
debentures and exercise of stock options
as follows:
Weighted average shares outstanding 7,863,056 7,863,056
Shares assumed issued upon conversion of
debentures 1,051,316
Incremental shares outstanding assuming
exercise of stock options using the
treasury stock method 126,579 126,579
----------- ----------
Average common and common equivalent shares
outstanding (B) 7,989,635 9,041,951
=========== ===========
Net loss per common and common
equivalent share (A/B) $ (1.28) $ (1.08)
=========== ===========
Notes:
(1) Net earnings for the fully diluted calculation are adjusted for interest
expense and deferred charge amortization, assuming exercise of the conversion
privilege on the 8% convertible debentures.