EXHIBIT 11
MedChem Products, Inc. and Subsidiaries
Computation of Primary and Fully Diluted Earnings Per Share
Three months ended Six months ended
June 30, June 30,
1995 1994 1995 1994
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PRIMARY :
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Net income $1,174,911 $518,309 $1,980,264 $1,601,445
Weighted average number of common
shares outstanding 10,252,415 10,091,142 10,242,888 10,091,142
Dilutive effect of outstanding
stock options 446,360 213,675 280,042 213,675
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Weighted average number of common
shares as adjusted 10,698,775 10,304,817 10,522,930 10,304,817
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Primary earnings per share $0.11 $0.05 $0.19 $0.16
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FULLY DILUTED:
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Net income $1,174,911 $518,309 $1,980,264 $1,601,445
Weighted average number of common
shares outstanding 10,252,415 10,091,142 10,242,888 10,091,142
Dilutive effect of outstanding
stock options 679,271 213,675 398,083 213,675
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Weighted average number of common
shares as adjusted 10,931,686 10,304,817 10,640,971 10,304,817
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Fully diluted earnings per share $0.11 $0.05 $0.19 $0.16
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