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EXHIBIT 11
TIDEWATER INC.
COMPUTATION OF EARNINGS AND SHARES USED IN ARRIVING AT
PRIMARY AND FULLY-DILUTED EARNINGS PER SHARE FOR THE
QUARTER AND SIX-MONTH PERIOD ENDED SEPTEMBER 30, 1996
Quarter Ended Six Months Ended
September 30, 1996 September 30, 1996
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Net earnings (in thousands) $ 32,952 $ 57,322
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Computation of weighted
average number of shares
outstanding:
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Issued: 62,022,356 shares
Weighted average shares
outstanding 62,013,762 61,979,502
Plus incremental shares
applicable to stock
options 581,166 648,624
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Weighted average common
shares and equivalents 62,594,928 62,628,126
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Primary and fully diluted
earnings per common share $ .53 $ .92
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