Exhibit 11
DIMON and Subsidiaries
Computation of Earnings Per Common Share
YEAR ENDED JUNE 30
________________________________________________
(in thousands, except per share data) 1997 1996 1995
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PRIMARY
EARNINGS
Income (loss) before extraordinary item $77,173 $ 39,870 $(30,165)
Extraordinary item 0 1,400 -
_______ _________ _________
Net Income (Loss) $77,173 $ 41,270 $(30,165)
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SHARES
Weighted average number of common shares outstanding 42,850 39,560 38,070
Shares applicable to stock options, net of shares assumed
to be purchased from proceeds at average market price 326 111 30
_______ _________ _________
Average Number of Shares Outstanding 43,176 39,671 38,100
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EARNINGS PER SHARE
Income (loss) before extraordinary item $1.79 $1.00 $(.79)
Extraordinary item .00 .04 -
_______ _________ _________
Net Income (Loss) $1.79 $1.04 $(.79)
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ASSUMING FULL DILUTION
EARNINGS
Income (loss) before extraordinary item $ 77,173 $ 39,870 $(30,165)
Add after tax interest expense applicable to 6 1/4%
Convertible Debentures issued April 1, 1997
for 1997 and 7 3/4% convertible debentures issued
June 3, 1993 for 1996 and 1995 1,151 1,765 2,674
_______ _________ _________
Income (loss) before extraordinary item 78,324 41,635 (27,491)
Extraordinary item - 1,400 -
_______ _________ _________
Net Income (Loss) as Adjusted $ 78,324 $ 43,035 $(27,491)
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SHARES
Weighted average number of common shares outstanding 42,850 39,560 38,070
Shares applicable to stock options, net of shares assumed
to be purchased from proceeds at the greater of average
market price or ending market price 564 162 83
Assuming conversion of 6 1/4% Convertible Debentures in
1997 and 7 3/4% convertible debentures in 1996 and 1995
at the beginning of each period 1,068 2,742 4,202
_______ _________ _________
Average Number of Shares Outstanding 44,482 42,464 42,355
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EARNINGS PER SHARE
Income (loss) before extraordinary $1.76 $ .98 $(.65)
Extraordinary item .00 .03 -
_______ _________ _________
Net Income (Loss) as Adjusted $1.76 $1.01 $(.65)
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