Exhibit 11.1
Renal Treatment Centers, Inc. and Subsidiaries
COMPUTATION OF PRIMARY AND FULLY DILUTED EARNINGS PER SHARE
for the three and six months ended June 30, 1996
Three Months Ended Six Months Ended
June 30, 1996 June 30, 1996
Primary Fully Diluted Primary Fully Diluted
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Net income $ 5,123,993 $ 5,123,993 $ 8,282,047 $ 8,282,047
Add back interest on earn out note, tax effected ---- 62,708 ---- 130,373
Add back interest on convertible note, tax effected 223,875 223,875 223,875 223,875
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Net income available to common stockholders $ 5,347,868 $ 5,410,576 $ 8,505,922 $ 8,636,295
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Weighted average number shares outstanding 23,671,496 23,671,496 23,612,831 23,612,831
Weighted average number of maximum shares subject
to exercise under outstanding stock options 1,789,894 1,789,894 1,591,183 1,591,183
Weighted average shares assumed issued upon
conversion of earn out note ---- 519,097 ---- 519,097
Weighted average shares assumed issued upon
conversion of convertible note 763,126 763,126 381,563 381,563
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26,224,516 26,743,613 25,585,577 26,104,674
Less treasury shares assumed purchased with proceeds
from assumed exercise of outstanding common stock
options 878,159 863,088 783,605 695,638
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Weighted average number of common and common
stock equivalents outstanding 25,346,357 25,880,525 24,801,972 25,409,036
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Net income per common and common stock equivalent $0.21 $0.21 $0.34 $0.34
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Exhibit 11.1
Renal Treatment Centers, Inc. and Subsidiaries
COMPUTATION OF PRIMARY AND FULLY DILUTED EARNINGS PER SHARE
for the three and six months ended June 30, 1995
Three Months Ended Six Months Ended
June 30, 1995 June 30, 1995
Primary Fully Diluted Primary Fully
Diluted
Net income $ 3,668,729 $ 3,668,729 $ 5,701,899 $ 5,701,899
Add back interest on Denver earn out note, tax effected ---- 72,705 ---- 147,062
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Net income available to common stockholders 3,668,729 3,741,434 5,701,899 5,848,961
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Weighted average number of shares outstanding 21,191,142 21,191,142 21,145,102 21,145,102
Weighted average number of maximum shares subject
to exercise under outstanding stock options 1,299,250 1,299,250 1,234,806 1,234,806
Weighted average shares assumed issued upon
conversion of earn out note ---- 695,368 ---- 703,650
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Less treasury shares assumed purchased with proceeds 22,490,392 23,185,760 22,379,908 23,083,558
from assumed exercise of outstanding common stock
options 867,710 862,886 804,632 769,504
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Weighted average number of common and common
stock equivalents outstanding 21,622,682 22,322,874 21,575,276 22,314,054
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Net income per common and common stock equivalent $0.17 $0.17 $0.26 $0.26
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