Exhibit 11.1
Tyco Toys, Inc. and Subsidiaries
Statement Regarding Computation of Per Share Earnings
(in thousands, except per share amounts)
For the Quarter Ended
June 30, 1994
---------------------------------------------------------------
As As (1) Fully
Reported Adjustments Primary Reported Adjustments Diluted
-------- ----------- ------- -------- ----------- -------
NET INCOME $1,207 $ - $1,207 $1,207 $147 $1,354
Preferred stock dividend 625 - 625 625 - 625
----- --- ----- ----- --- -----
NET INCOME AVAILABLE TO COMMON
SHAREHOLDERS $ 582 $ - $ 582 $ 582 $147 $ 729
===== === ===== ===== ==== =====
Fully
SHARES Primary Diluted
- ------ ------- -------
Average shares outstanding 34,677 34,677
Additional shares issued assuming conversion of:
Debentures (2) - 1,397
Preferred Stock (3) - 4,121
------ ------
Total average shares outstanding 34,677 40,195
====== ======
NET INCOME PER COMMON SHARE (4) $0.02 $0.02
==== ====
Note: Reference is made to Note 6 to Consolidated Financial Statements in Part
I, Item 1 of this report.
(1) Reflects the interest savings, net of taxes, from the conversion of
convertible debentures (reference note 2 below), at the beginning of the
year.
(2) Assumes the conversion (for fully diluted earnings per share only) of the
$13,973,000 of 7% convertible debentures into common stock of the Company
at a conversion price of $10 per share as of the beginning of the year
(or date of issuance, if later).
(3) Assumes the conversion (for fully diluted earnings per share only) of the
$50,000,000 of 6% series B voting convertible, exchangeable preferred
stock into 4,999,995 shares of the Company's common stock at a conversion
price of $10 per share as of April 15, 1994, the date of issuance.
(4) Fully diluted earnings per share is not presented in the Consolidated
Statements of Operations since it is not materially dilutive.
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Exhibit 11.1
Tyco Toys, Inc. and Subsidiaries
Statement Regarding Computation of Per Share Earnings
(in thousands, except per share amounts)
For the Quarter Ended
June 30, 1993
---------------------------------------------------------------
As As (1) Fully
Reported Adjustments Primary Reported Adjustments Diluted
-------- ----------- ------- -------- ----------- -------
NET LOSS $(3,530) $ - $(3,530) $(3,530) $142 $(3,388)
===== ==== ===== ===== === =====
Fully
SHARES Primary Diluted
- ------ ------- -------
Average shares outstanding 33,093 33,093
Incremental shares issued assuming exercise of
stock options (2)(5) 505 505
Additional shares issued assuming conversion of
Debentures (3) - 1,350
------ ------
Total average shares outstanding 33,598 34,948
====== ======
NET LOSS PER COMMON SHARE (4) $(0.11) $(0.10)
==== ====
Note: Reference is made to Note 6 to Consolidated Financial Statements in Part
I, Item 1 of this report.
(1) Reflects the interest savings, net of taxes, from the conversion of
convertible debentures (reference note 3 below), at the beginning of the
year.
(2) Reflects the shares issuable upon the assumed conversion of all the
outstanding stock options as of the beginning of the period presented (or
date of issuance, if later), net of shares repurchased with the exercise
proceeds.
(3) Assumes the conversion (for fully diluted earnings per share only) of the
$13,500,000 of 7% convertible debentures into common stock of the Company
at a conversion price of $10 per share as of the beginning of the year.
(4) Fully diluted loss per share is not presented in the Consolidated
Statements of Operations since it is anti-dilutive.
(5) For financial statement purposes, the incremental shares for primary
earnings per share have not been included, as the effect is
anti-dilutive.
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