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EXHIBIT 11
Schawk, Inc.
Computation of Pro Forma Net Income per Share of Common and
Common Equivalent Shares Adjusted for Merger, Purchase Accounting
and Income Taxes
(In Thousands, Except Per Share Amounts)
Year ended December 31
1994 1993
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Primary:
Average number of shares used to compute primary
earnings per share $ 7,330 $ 7,134
Common stock issuable upon assumed conversion of
stock option exercises 247 212
Shares issued in share exchange 16,245 16,245
Shares cancelled in share exchange (4,279) (4,073)
Other -- 587
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Total 19,543 20,105
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Pro forma net income adjusted for merger, purchase
accounting and income taxes $12,585 $ 9,907
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Pro forma primary earnings per share adjusted for
merger, purchase accounting and income taxes $ 0.64 $ 0.49
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Fully Diluted (1):
Average number of shares used to compute fully
diluted earnings per share 7,330 7,134
Common stock issuable upon assumed conversion of
stock option exercises 279 212
Shares issued in share exchange 16,245 16,245
Shares cancelled in share exchange (4,279) (4,073)
Other -- 587
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Total 19,575 20,105
Pro forma net income adjusted for merger, purchase
accounting and income taxes $12,585 $ 9,907
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Pro forma fully diluted earnings per share adjusted
for merger, purchase accounting and income taxes $ 0.64 $ 0.49
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(1) This calculation is submitted in accordance with Regulation S-K item
601(b) (11) although it is contrary to paragraph 40 of APB Opinion
No. 15 because it produces a fully diluted earnings per share within
3% of primary earnings per share.
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