Pro Forma Earnings Per Share-1996 and 1995
36
Exhibit 11
ALBEMARLE CORPORATION
COMPUTATION OF PRO FORMA EARNINGS PER SHARE
for the years ended December 31, 1996 and 1995
(In thousands except per share amounts)
Pro Forma Pro Forma
1996 1995
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BASIC EARNINGS PER SHARE
Numerator:
- ---------
Net income adjusted to
reflect operations
without the Olefins Business $61,054 $89,180
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Denominator:
- -----------
Average number of shares of
common stock outstanding 58,353 66,069
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Basic earnings per share $1.05 $1.35
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DILUTED EARNINGS PER SHARE
Numerator:
- ---------
Net income adjusted to reflect
operations without the Olefins
Business $61,054 $89,180
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Denominator:
- -----------
Average number of shares of
common stock outstanding 58,353 66,069
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Shares issuable upon the
assumed exercise of outstanding
stock options 489 283
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Shares of common stock and
common stock equivalents 58,842 66,352
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Diluted earnings per share $1.04 $1.34
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