Exhibit 11
TYCO TOYS, INC.
Computation of Loss Per Share
(in thousands, except per share amounts)
Quarters Ended Six Months Ended
June 30, June 30,
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1996 1995 1996 1995
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Primary Loss Per Share:
1. Net loss $ (3,769) $ (8,835) $ (13,966) $(15,504)
2. Less preferred dividends 889 790 1,716 1,574
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3. Net loss applicable to common shareholders $ (4,658) $ (9,625) $ (15,682) $(17,078)
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4. Weighted average shares outstanding 34,827 34,762 34,827 34,760
5. Add additional shares issuable upon the assumed exercise
of outstanding stock options * - - - -
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6. Adjusted weighted average shares outstanding 34,827 34,762 34,827 34,760
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7. Net loss per share (3 / 6) $ (0.13) $ (0.28) $ (0.45) $ (0.49)
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Fully Diluted Loss Per Share:
8. Line 3 above $ (4,658) $ (9,625) $ (15,682) $ (17,078)
9. Add back preferred dividends (line 2) 889 790 1,716 1,574
10. Add back interest, net of tax, on assumed conversion of
the Company's 7% Convertible Subordinated Notes 196 170 372 341
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11. Adjusted net loss $ (3,573) $ (8,665) $ (13,594) $ (15,163)
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12. Weighted average shares outstanding (line 4) 34,827 34,762 34,827 34,760
13. Add additional shares issuable upon the assumed exercise
of outstanding stock options* - - - -
14. Add additional shares issuable upon assumed
conversion of the Company's 7% Convertible
Subordinated Notes 1,603 1,498 1,603 1,497
15. Add additional shares issuable upon assumed
conversion of preferred shares 6,041 5,039 5,788 4,969
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16. Adjusted weighted average shares outstanding 42,471 41,299 42,218 41,226
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17. Net loss per share (11/16) ** $ (0.08) $ (0.21) $ (0.32) $ (0.37)
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* For the calculation of loss per share, the inclusion of the assumed exercise
of options for the quarters and six months ended June 30, 1996 and 1995 is
anti-dilutive and, therefore, such assumed exercise is excluded from the per
share calculations.
** The fully diluted loss per share is anti-dilutive and is therefore not
presented in the Consolidated Statements of Operations.