EXHIBIT 11
THE GENERAL CHEMICAL GROUP INC.
COMPUTATION OF PER SHARE EARNINGS
(IN THOUSANDS, EXCEPT PER SHARE AMOUNT)
(UNAUDITED)
Earnings per share were calculated as follows:
THREE MONTHS ENDED SIX MONTHS ENDED
JUNE 30, JUNE 30,
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1997 1998 1997 1998
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Basic
Income before extraordinary item used for
basic earnings per share............................ $ 17,258 $ 14,686 $ 28,972 $ 24,547
Extraordinary item................................... -- (3,661) -- (3,661)
---------- --------- --------- ---------
Total income used for basic
earnings per share.................................. $ 17,258 $ 11,025 $ 28,972 $ 20,886
========== ========= ========= =========
Weighted average common shares
outstanding......................................... 21,327 21,103 21,817 21,076
Basic earnings per common share...................... $ .81 $ .52 $ 1.33 $ .99
========== ========= ========= =========
Diluted
Income before extraordinary item used for
basic earnings per share............................ $ 17,258 $ 14,686 $ 28,972 $ 24,547
Extraordinary item................................... -- (3,661) -- (3,661)
---------- --------- --------- ---------
Total income used for diluted
earnings per share.................................. $ 17,258 $ 11,025 $ 28,972 $ 20,886
========== ========= ========= =========
Weighted average common shares
outstanding......................................... 21,327 21,103 21,817 21,076
Weighted average common
equivalents shares.................................. 1,026 898 1,009 873
---------- --------- --------- ---------
Weighted average common and
common equivalent shares............................ 22,353 22,001 22,826 21,949
========== ========= ========= =========
Diluted earnings per common share
and common equivalent shares ....................... $ .77 $ .50 $ 1.27 $ .95
========== ========= ========= =========
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All prior period per share figures have been restated in accordance with
FAS 128.
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