Exhibit 11
GENESIS HEALTH VENTURES, INC. AND SUBSIDIARIES
STATEMENT RE COMPUTATION OF EARNINGS PER SHARE
QUARTERS ENDED DECEMBER 31, 1996 AND 1995
(in thousands, except share and per share data)
December 31, December 31,
1996 1995
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Primary Earnings Per Share:
Reported earnings before debenture conversion
expense and extraordinary item $ 11,508 $ 6,556
Debenture conversion expense, net of tax - (698)
Extraordinary item, net of tax (553) -
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Reported net income $ 10,955 $ 5,858
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Weighted average shares & CSE's: 34,219,921 23,801,866
Primary EPS before debenture conversion
expense and extraordinary item $ 0.34 $ 0.27
Primary EPS - debenture conversion expense - (0.02)
Primary EPS - extraordinary item, net of tax (0.02) -
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Primary EPS - Net income $ 0.32 $ 0.25
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Fully Diluted Earnings Per Share:
Reported earnings before debenture conversion
expense and extraordinary item $ 11,508 $ 6,556
Debenture conversion expense, net of tax - (698)
Extraordinary item, net of tax (553) -
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Reported net income $ 10,955 $ 5,858
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Adjustments to net income
Interest expense, amortization and other costs
related to the assumed conversion of the
convertible debentures, net of tax 304 788
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Adjusted net income $ 11,259 $ 6,646
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Weighted average shares & CSE's:
Common shares 34,219,921 23,801,866
Additional option shares 144,477 167,544
Convertible debenture shares 1,746,205 4,699,418
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Total 36,110,603 28,668,828
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Fully diluted EPS before debenture conversion
expense and extraordinary item $ 0.33 $ 0.25
Fully diluted EPS - debenture conversion expense - (0.02)
Fully diluted EPS - extraordinary item, net of tax (0.02) -
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Fully diluted EPS - Net income $ 0.31 $ 0.23
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