Exhibit XI
Reliv' International, Inc. and Subsidiaries
Statement Re: Computation of Per Share Earnings
For the years ended December 31, 1996, 1995 and 1994
Year ended December 31
1996 1995 1994
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(In thousands, except per share data)
Primary:
Average shares outstanding 9,854 10,280 10,460
Net effect of warrants and options 530 26 8
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10,384 10,306 10,468
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Net income $ 1,507 $ 570 $ 894
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Per share amount $ .15 $ .06 $ .09
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Fully diluted:
Average shares outstanding 9,854 10,280 10,460
Net effect of warrants and options 663 26 8
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10,517 10,306 10,468
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Net income $ 1,507 $ 570 $ 894
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Per share amount $ .14 $ .06 $ .09
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NOTE: Per share data reflects the pro forma effect of the Company's 10 percent
stock dividend declared on January 31, 1997 and distributed on February
28, 1997.