Exhibit 11
OMNICARE, INC. AND SUBSIDIARY COMPANIES
Computation of Earnings Per Common Share (EPS)
(in thousands, except per share data)
Three Months Ended
March 31,
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2001 2000
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Basic Earnings:
Net income $18,044 $14,393
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Shares
Weighted average number of common
shares outstanding 92,422 91,599
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Basic earnings per common share $ 0.20 $ 0.16
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Diluted Earnings (a):
Net income $18,044 $14,393
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Shares
Weighted average number of common
shares outstanding 92,422 91,599
Additional shares assuming conversion of
stock options and stock warrants (b) 748 -
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Weighted average common shares outstanding,
as adjusted 93,170 91,599
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Diluted earnings per common share $ 0.19 $ 0.16
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(a) The $345.0 million of Convertible Debentures which are convertible into 8.7
million shares at $39.60 per share were outstanding during the three months
ended March 31, 2001 and 2000, but were not included in the computation of
diluted EPS because the impact was anti-dilutive.
(b) During the three months ended March 31, 2001 and 2000, the antidilutive
effect associated with 1.6 million and 6.1 million options, respectively,
as well as 2.3 million and 2.5 million warrants, respectively, were
excluded from the computation of diluted earnings per share, since the
exercise price of these options and warrants was greater than the average
market price of the Company's common stock during these periods.