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Item 6. TIFFANY & CO. AND SUBSIDIARIES
EXHIBIT 11 STATEMENT RE COMPUTATION OF PER SHARE EARNINGS
(Unaudited)
(in thousands, except per share data)
For the For the
Three Months Ended Six Months Ended
July 31, July 31,
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1997 1996 1997 1996
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PRIMARY EARNINGS PER SHARE:
Net earnings on which primary
earnings per share are based $10,380 $ 8,246 $19,260 $13,323
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Weighted average number of
common shares 34,990 33,448 34,856 32,853
Add:
Weighted average effect of the
exercise of stock options 1,349 1,267 1,269 1,205
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Weighted average number of shares on
which primary earnings are based 36,339 34,715 36,125 34,058
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Primary net earnings per common share $ 0.29 $ 0.24 $ 0.53 $ 0.39
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FULLY DILUTED EARNINGS PER SHARE:
Net earnings on which primary earnings
per share are based $10,380 $ 8,246 $19,260 $13,323
Add:
Interest and fees on convertible
subordinated debt, net of
applicable income taxes -- 229 -- 682
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Net earnings on which fully diluted
earnings per share are based $10,380 $ 8,475 $19,260 $14,005
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Weighted average number of common shares
on which fully diluted earnings are based 36,339 34,715 36,205 34,162
Add:
Shares assumed upon conversion
of convertible debt, using the
"if converted" method -- 973 -- 1,379
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Weighted average number of shares
used in calculating fully diluted
earnings per share 36,339 35,688 36,205 35,541
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Fully diluted net earnings per common share $ 0.29 $ 0.24 $ 0.53 $ 0.39
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