STATEMENT OF COMPUTATION OF EARNINGS PER SHARE Exhibit 11
INTErTAN, INC.
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(in thousands, except per share data)
THREE MONTHS ENDED NINE MONTHS ENDED
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MARCH 31 MARCH 31
1997 1996 1997 1996
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PRIMARY EARNINGS PER SHARE
Net income......................................................... $(5,133) $(4,108) $ (263) $ 4,024
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Weighted average number of common shares outstanding............... 11,527 10,943 11,373 10,857
Weighted average number of common shares issuable under
warrants and stock option plans, net of assumed treasury
stock repurchases at average market prices........................ (a) (a) (a) 107
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Weighted average number of common and common equivalent
shares outstanding.............................................. 11,527 10,943 11,373 10,964
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Primary net income per average common share $ (0.45) $ (0.38) $ (0.02) $ 0.37
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FULLY DILUTED EARNINGS PER SHARE
Reconciliation of net income per statements to amounts used in
computation of fully diluted net income per average common share:
Net income, as reported............................................ $(5,133) $(4,108) $ (263) $ 4,024
Adjustments for assumed conversion of the 9% convertible
subordinated debentures:
Add interest on the debentures..................................... (a) (a) (a) 2,873
Add amortization expense on the debentures......................... (a) (a) (a) 271
Less foreign exchange transaction gain recognized
on the debentures................................................. (a) (a) (a) (117)
Less income tax effect on the debentures........................... - (a) - (1,069)
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Net income, as adjusted............................................ $(5,133) $(4,108) $ (263) $ 5,982
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Reconciliation of weighted average number of shares
outstanding to amount used in computation of fully
diluted net income per average common share:
Weighted average number of shares outstanding...................... 11,527 10,943 11,373 10,857
Adjustments for assumed conversion of 9% convertible
subordinated debentures to common stock........................... (a) (a) (a) 6,745
Adjustments for assumed exercise of warrants and stock options,
net of assumed treasury stock repurchases at period end prices... (a) (a) (a) 107
Adjustment for converted debentures................................ - - - 13
Weighted average number of common and common equivalent shares
outstanding, as adjusted........................................ 11,527 10,943 11,373 17,722
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Fully diluted net income per average common shares................. $ (0.45) $ (0.38) $ (0.02) $ 0.34
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(a) These items are anti-dilutive and thus are omitted from the calculation.