EXHIBIT 11
K-III COMMUNICATIONS CORPORATION AND SUBSIDIARIES
STATEMENT REGARDING COMPUTATION OF PER SHARE EARNINGS
FOR THE THREE MONTHS ENDED MARCH 31, 1996 AND 1995 AND
FOR THE YEARS ENDED DECEMBER 31, 1995, 1994 AND 1993
(DOLLARS IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)
THREE MONTHS ENDED MARCH 31, YEARS ENDED DECEMBER 31,
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1996 1996 1995 1995 1995 1994 1993
PRO FORMA ACTUAL ACTUAL PRO FORMA ACTUAL ACTUAL ACTUAL
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Loss applicable to
common
shareholders...... $ (46,505) $ (27,584) $ (27,115) $ (154,905) $ (104,413) $ (67,362) $ (108,786)
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Weighted average
common shares..... 128,502,847 128,502,847 108,631,354 127,593,713 113,218,711 101,171,427 89,295,531
Incremental shares
for stock
options(1)........ -- -- 504,100 252,050 252,050 504,100 504,100
Incremental shares
for common share
issuances(1)...... -- -- 486,725 133,478 133,478 1,967,141 2,592,558
Incremental shares
for stock
options(2)........ -- -- -- 1,473,259 1,473,259 -- --
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Weighted average
common and common
equivalent shares
outstanding(2)(3)... 128,502,847 128,502,847 109,622,179 129,452,500 115,077,498 103,642,668 92,392,189
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Loss per common
and common
equivalent
share............. $ (.36) $ (.21) $ (.25) $ (1.20) $ (.91) $ (.65) $ (1.18)
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(1) Represents the incremental shares for non-qualified options granted to
purchase common stock and common stock issued within one year prior to the
initial filing of the registration statement for the initial public offering
at an exercise price or purchase price below the initial offering price of
$10.00 per share.
(2) The effect of the assumed exercise of stock options which were issued in
periods prior to the one-year period prior to the initial filing of the
registration statement is not included in the weighted average number of
common stock shares outstanding for 1994 and 1993 because the effect is
antidilutive.
(3) The weighted average common and common equivalent shares outstanding does
not include the assumed conversion of the convertible preferred stock in
1993 because the effect of the conversion would be antidilutive.