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EXHIBIT 11
STATEMENT RE: COMPUTATION OF PER SHARE EARNINGS
CHAPARRAL STEEL COMPANY
Year Ended May 31,
--------------------------------
1995 1994 1993
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(In thousands except per share)
AVERAGE SHARES OUTSTANDING:
For 1995, 1994 and 1993, weighted average shares
outstanding......................................... 29,680 29,680 29,675
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Primary:
Average shares outstanding............................. 29,680 29,680 29,675
Stock options and other equivalents
treasury stock method............................... 42 41 -
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TOTALS 29,722 29,721 29,675
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Fully diluted:
Average shares outstanding............................. 29,680 29,680 29,675
Stock options and other equivalents
treasury stock method............................... 42 49 -
-------- -------- -------
TOTALS 29,722 29,729 29,675
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INCOME (LOSS) APPLICABLE TO COMMON STOCK:
Primary and fully diluted:
NET INCOME (LOSS)................................... $ 19,607 $ 11,919 $(2,051)
Add:
Pre-September 1990 contingent
amortization................................ 233 233 233
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NET INCOME (LOSS) APPLICABLE TO COMMON STOCK.............. $ 19,840 $ 12,152 $(1,818)
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PRIMARY AND FULLY DILUTED:
NET INCOME (LOSS) PER COMMON SHARE........................ $ .67 $ .41 $ (.06)
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