1
EXHIBIT 11
STATEMENT RE: COMPUTATION OF PER SHARE EARNINGS
CHAPARRAL STEEL COMPANY
Year Ended May 31,
---------------------------------
1994 1993 1992
---- ---- ----
(In thousands except per share)
AVERAGE SHARES OUTSTANDING:
For 1994, 1993 and 1992, weighted average shares
outstanding.................................. 29,680 29,675 29,675
======= ======= ======
Primary:
Average shares outstanding...................... 29,680 29,675 29,675
Stock options and other equivalents
treasury stock method........................ 41 - 47
------- ------- ------
TOTALS 29,721 29,675 29,722
======= ======= ======
Fully diluted:
Average shares outstanding...................... 29,680 29,675 29,675
Stock options and other equivalents
treasury stock method........................ 49 - 59
------- ------- ------
TOTALS 29,729 29,675 29,734
======= ======= ======
INCOME APPLICABLE TO COMMON STOCK
Primary and fully diluted:
NET INCOME (LOSS)............................ $11,919 $(2,051) $7,090
Add:
Pre-September 1990 contingent
amortization......................... 233 233 233
------- ------- ------
NET INCOME (LOSS) AVAILABLE TO COMMON STOCK........ $12,152 $(1,818) $7,323
======= ======= ======
PRIMARY AND FULLY DILUTED:
NET INCOME (LOSS) PER COMMON SHARE................. $ .41 $ (.06) $ .25
======= ======= ======