Exhibit 11.1
HEALTH MANAGEMENT ASSOCIATES, INC.
COMPUTATION OF EARNINGS PER SHARE
(In thousands, except per share data)
Three months ended Six months ended
March 31, March 31,
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1996 1995 1996 1995
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Net income.............................. $ 24,970 $ 18,636 $ 40,019 $ 29,945
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PRIMARY
Weighted average number of common shares
outstanding during the period........... 70,139 69,042 69,831 69,011
Exercise of options, net of assumed
purchase of treasury shares with
proceeds therefrom....................... 3,481 2,931 3,466 2,818
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Weighted average number of common
shares outstanding during the
period as adjusted.................. 73,620 71,973 73,297 71,829
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Net income per share...................... $ .34 $ .26 $ .55 $ .42
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FULLY DILUTED
Weighted average number of common shares
outstanding during the period........... 70,139 69,042 69,831 69,011
Exercise of options, net of assumed
purchase of treasury shares with
proceeds therefrom....................... 3,779 3,089 3,994 3,099
-------- -------- -------- --------
Weighted average number of common
shares outstanding during the
period as adjusted.................. 73,918 72,131 73,825 72,110
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Net income per share...................... $ .34 $ .26 $ .54 $ .42
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