1
MAXCO, INC.
EXHIBIT 11 - STATEMENT RE: COMPUTATION OF PER SHARE EARNINGS
Three Months Ended September 30,
1996 1995
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(In thousands except per share data)
NET INCOME FOR COMPUTATION
OF PER SHARE AMOUNTS
- ----------------------------------------------------------
Net income (loss) from continuing operations $ 22,431 $ (145)
Net income (loss) from discontinued operations (66) 251
----------------- -----------------
Net income 22,365 106
Preferred stock series 2 dividend (27) (27)
Preferred stock series 3 dividend (24) (24)
Net Income (Loss) Attributable To Common Stock-Primary
Continuing operations 22,380 (196)
Discontinued operations (66) 251
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22,314 55
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Net Income (Loss) Attributable To Common Stock-Fully
Diluted
Continuing operations 22,407 (169)
Discontinued operations (66) 251
----------------- -----------------
22,341 82
================= =================
PRIMARY
- ----------------------------------------------------------
Average shares outstanding 3,917,606 4,262,611
Net effect of dilutive stock options--based on the
Treasury Stock Method using average market price 86,700 121,356
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TOTAL 4,004,306 4,383,967
Net income (loss) per share:
Continuing operations $ 5.59 $ (.05)
Discontinued operations (.02) .06
----------------- ------------------
$ 5.57 $ .01
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FULLY DILUTED
- ----------------------------------------------------------
Average shares outstanding 3,917,606 4,262,611
Net effect of dilutive stock options--based on the Treasury
Stock Method using the quarter-end market price if
higher than average market price 86,700 121,356
Assumed conversion of series two 12% cumulative
redeemable convertible preferred stock 231,840 231,840
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TOTAL 4,236,146 4,615,807
Net income (loss) per share:
Continuing operations $ 5.29 $ (.04)
Discontinued operations (.02) .06
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$ 5.27 $ .02
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2
MAXCO, INC.
EXHIBIT 11 - STATEMENT RE: COMPUTATION OF PER SHARE EARNINGS
Six Months Ended September 30,
1996 1995
------------------ ------------------
(In thousands except per share data)
NET INCOME FOR COMPUTATION
OF PER SHARE AMOUNTS
Net income (loss) from continuing operations $ 22,233 $ (107)
Net income from discontinued operations 464 569
----------------- -----------------
Net income 22,697 462
Preferred stock series 2 dividend (54) (54)
Preferred stock series 3 dividend (48) (48)
Net Income (Loss) Attributable To Common Stock-Primary
Continuing operations 22,131 (209)
Discontinued operations 464 569
----------------- -----------------
22,595 360
================= =================
Net Income (Loss) Attributable To Common Stock-Fully
Diluted
Continuing operations 22,185 (155)
Discontinued operations 464 569
----------------- -----------------
22,649 414
================= =================
PRIMARY
- -------
Average shares outstanding 4,074,533 4,272,052
Net effect of dilutive stock options--based on the
Treasury Stock Method using average market price 85,221 119,559
----------------- -----------------
TOTAL 4,159,754 4,391,611
Net income (loss) per share:
Continuing operations $ 5.32 $ (.05)
Discontinued operations .11 .13
----------------- -----------------
$ 5.43 $ .08
================= =================
FULLY DILUTED
- -------------
Average shares outstanding 4,074,533 4,272,052
Net effect of dilutive stock options--based on the Treasury
Stock Method using the quarter-end market price if
higher than average market price 85,221 119,559
Assumed conversion of series two 12% cumulative
redeemable convertible preferred stock 231,840 231,840
----------------- -----------------
TOTAL 4,391,594 4,623,451
Net income (loss) per share:
Continuing operations $ 5.05 $ (.03)
Discontinued operations .11 .12
----------------- -----------------
$ 5.16 $ .09
================= =================