Urban Outfitters, Inc. EXHIBIT 22 INCOME PER SHARE CALCULATION: JANUARY 31, 1999 & 1998 INCOME PER SHARE CALCULATION: Three Months Ended January 31, ----------------------------------------------------- 1999 1998 ------------------------- -------------------------- $ Per Share $ Per Share NET INCOME 5,185,000 $0.29 3,819,000 $0.21 ========= ========== ========= ========== WEIGHTED AVERAGE COMMON SHARES & COMMON SHARE EQUIVALENTS OUTSTANDING 17,810,417 17,967,161 ========== ========== Twelve Months Ended January 31, -------------------------------------------------------- 1999 1998 -------------------------- --------------------------- $ Per Share $ Per Share NET INCOME 15,760,000 $0.88 13,880,000 $0.78 ========== ========== ========== ========== WEIGHTED AVERAGE COMMON SHARES & COMMON SHARE EQUIVALENTS OUTSTANDING 17,929,109 17,843,873 ========== ========== COMPUTATION OF COMMON SHARES & COMMON SHARE EQUIVALENTS OUTSTANDING: Three Months Ended January 31, --------------------------------------------------------------------- 1999 1998 ------------------------------- --------------------------------- End of Period Weighted Ave. End of Period Weighted Ave. ------------- ------------- -------------- ------------- COMMON SHARES OUTSTANDING 17,639,754 17,632,859 17,649,360 17,646,288 ---------- ---------- COMMON SHARE EQUIVALENTS: OPTIONS 1,682,500 1,547,884 1,305,094 1,311,440 ASSUMED REPURCHASED AT AVERAGE PRICE (1,370,326) (990,567) ---------- --------- WEIGHTED AVERAGE COMMON EQUIVALENTS 177,558 320,873 ---------- --------- TOTAL WEIGHTED AVERAGE COMMON SHARES & COMMON SHARE EQUIVALENTS OUTSTANDING 17,810,417 17,967,161 ========== ========== Twelve Months Ended January 31, ------------------------------------------------------------------- 1999 1998 ------------------------------- -------------------------------- End of Period Weighted Ave. End of Period Weighted Ave. ------------- ------------- -------------- ------------ COMMON SHARES OUTSTANDING 17,639,754 17,702,922 17,649,360 17,576,203 ------------ ----------- COMMON SHARE EQUIVALENTS: OPTIONS 1,682,500 1,616,973 1,305,094 1,368,167 ASSUMED REPURCHASED AT AVERAGE PRICE (1,390,786) (1,100,497) ----------- ----------- WEIGHTED AVERAGE COMMON EQUIVALENTS 226,187 267,670 ---------- ---------- TOTAL WEIGHTED AVERAGE COMMON SHARES & COMMON SHARE EQUIVALENTS OUTSTANDING 17,929,109 17,843,873 ========== ==========