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 NINE MONTHS ENDED
SEPTEMBER 30, SEPTEMBER 30,
-------------------- --------------------
1997 1998 1997 1998
-------- -------- -------- --------
Basic
Income before extraordinary item used for
basic earnings per share ................. $ 15,102 $ 11,766 $ 44,074 $ 36,313
Extraordinary item .......................... -- -- -- (3,661)
-------- -------- -------- --------
Total income used for basic
earnings per share ....................... $ 15,102 $ 11,766 $ 44,074 $ 32,652
======== ======== ======== ========
Weighted average common shares
outstanding .............................. 21,038 21,100 21,555 21,085
Basic earnings per common share. ............ $ .72 $ .56 $ 2.04 $ 1.55
======== ======== ======== ========
Diluted
Income before extraordinary item used for
basic earnings per share ................. $ 15,102 $ 11,766 $ 44,074 $ 36,313
Extraordinary item .......................... -- -- -- (3,661)
-------- -------- -------- --------
Total income used for diluted
earnings per share ....................... $ 15,102 $ 11,766 $ 44,074 $ 32,652
======== ======== ======== ========
Weighted average common shares
outstanding .............................. 21,038 21,100 21,555 21,085
Weighted average common
equivalents shares ....................... 1,147 777 1,055 894
-------- -------- -------- --------
Weighted average common and
common equivalent shares ................. 22,185 21,877 22,610 21,979
======== ======== ======== ========
Diluted earnings per common share
and common equivalent shares ............. $ .68 $ .54 $ 1.95 $ 1.49
======== ======== ======== ========
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All prior period per share figures have been restated in accordance with FAS
128.
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