LITHIA MOTORS, INC.
CALCULATIONS OF NET INCOME PER SHARE
Three Months Ended June 30, Six Months Ended June 30,
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1997 1996 1997 1996
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Primary Fully Diluted Primary Fully Diluted Primary Fully Diluted Primary Fully Diluted
Weighted Average Shares
Outstanding for the Period
Class A 2,895,550 2,895,550 390,000 390,000 2,846,592 2,846,592 390,000 390,000
Class B 4,110,000 4,110,000 4,110,000 4,110,000 4,110,000 4,110,000 4,110,000 4,110,000
Dilutive Common Stock
Options Using the Treasury
Stock Method 303,361 303,361 - - 308,563 308,507 - -
Shares Added Pursuant
to SAB 83 - - 383,016 383,016 - - 383,016 383,016
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Total Shares Used for Per
Share Calculations 7,308,911 7,308,911 4,883,016 4,883,016 7,265,155 7,265,099 4,883,016 4,883,016
Net Income $1,368,000 $1,368,000 $1,045,000 $1,045,000 $2,511,000 $2,511,000 $1,824,000 $1,824,000
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Net Income Per Share $0.19 $0.19 $0.21 $0.21 $0.35 $0.35 $0.37 $0.37
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