Exhibit 11.1
Castle Energy Corporation
Statement of Computation of Earnings Per Share
(Dollars in thousands, except per share amounts)
(Unaudited)
Twelve Months Ended September 30,
--------------------------------------------------------------
1995 1994
----------------------------- --------------------------
Fully Fully
Primary Diluted Primary Diluted
----------- ----------- ----------- -----------
I. Weighted Shares Outstanding, Net of Treasury 7,627,646 7,627,646 7,722,646 7,722,646
Stock Issued During the Period:
Stock, net (929,174) (929,174) 2,698,350 2,698,350
Options and warrants exercised 11,986 11,986 2,548 2,548
II. Weighted Equivalent Shares:
Assumed options and warrants exercised 47,890 37,988 285,103 473,187
Assumed debenture conversion 19,200 19,200 500,000 500,000
----------- ----------- ----------- -----------
III. Weighted Average Shares and Equivalent Shares 6,777, 548 6,767,646 11,208,647 11,396,731
=========== =========== =========== ===========
IV. Net Income (Loss):
Continuing operations ($ 26,040) ($ 26,040) $ 16,340 $ 16,340
Discontinued operations:
Before adjustment 40,937 40,937 22,577 22,577
Assumed interest savings as if convertible
debentures exercised and retired 12 12 126 126
----------- ----------- ----------- -----------
$ 14,909 $ 14,909 $ 39,043 $ 39,043
=========== =========== =========== ===========
V. Net Income (Loss) Per Share:
Continuing operations ($ 3.84) ($ 3.84) $ 1.46 $ 1.44
Discontinued operations, as adjusted 6.04 6.04 2.02 1.99
----------- ----------- ----------- -----------
$ 2.20 $ 2.20 $ 3.48 $ 3.43
=========== =========== =========== ===========
(1)
Exhibit 11.1
Castle Energy Corporation
Statement of Computation of Earnings Per Share
(Dollars in thousands, except per share amounts)
(Unaudited)
Three Months Ended September 30,
----------------------------------------------------------------
1995 1994
------------------------ --------------------------
Fully Fully
Primary Diluted Primary Diluted
------- ------- ------- -------
I. Weighted Shares Outstanding, Net of Treasury
Stock Issued During the Period:
Stock, net 6,683,646 6,683,646 11,227,646 11,227,646
Options and warrants exercised 9,451 9,451 (821,880) (821,880)
II. Weighted Equivalent Shares:
Assumed options and warrants exercised 28,646 30,883 403,616 525,160
Assumed debenture conversion 500,000 500,000
--------- --------- ---------- ----------
III. Weighted Average Shares and Equivalent Shares 6,721,743 6,723,980 11,309,382 11,430,926
========= ========= ========== ==========
IV. Net Income (Loss):
Continuing operations ($ 2,464) ($ 2,464) ($ 5,834) ($ 5,834)
Discontinued operations:
Before adjustment 5,114 5,114 25,324 25,324
Assumed interest savings as if convertible
debentures exercised and retired -- -- 66 66
--------- --------- ---------- ----------
$ 2,650 $ 2,650 $19,556 $ 19,556
========= ========= ========== ==========
V. Net Income (Loss) Per Share:
Continuing operations ($ .37) ($ .37) ($ .52) ($ .51)
Discontinued operations, as adjusted 0.76 0.76 2.25 2.22
--------- --------- ---------- ----------
$ .39 $ .39 $ 1.73 $ 1.71
========= ========= =========== =========
(2)