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MEDICINE SHOPPE INTERNATIONAL, INC.
EXHIBIT 11 - COMPUTATION OF NET EARNINGS
PER COMMON SHARE (Unaudited)
Quarter Ended
December 31,
---------------------
1994 1993
NET EARNINGS PER SHARE ---- ----
- - ----------------------
Net earnings $ 4,065,381 $ 3,550,128
Average number of shares
outstanding during
the period 7,862,782 7,927,085
Net earnings per share $ 0.52 0.45
============ ===========
PRIMARY EARNINGS PER SHARE
- - --------------------------
Net earnings $ 4,065,381 $ 3,550,128
Average number of shares
outstanding during
the period 7,826,782 7,927,085
Plus shares outstanding
considering conversion
of stock options 746 0
------------ ------------
Average shares for primary
earnings per share 7,827,528 7,927,085
Primary earnings
per share $ 0.52 $ 0.45
============ ============
FULLY DILUTED
EARNINGS PER SHARE
- - --------------------
Net earnings $ 4,065,381 $ 3,550,128
Average number of shares
outstanding during
the period 7,826,782 7,927,085
Plus shares outstanding
considering conversion
of stock options 15,840 0
------------ ------------
Average shares for fully
diluted earnings
per share 7,842,622 7,927,085
Fully diluted earnings
per share $ 0.52 $ 0.45
============ ============
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