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EXHIBIT 11
CHESAPEAKE ENERGY CORPORATION AND SUBSIDIARIES
STATEMENT OF NET INCOME PER SHARE
($ in thousands, except per share)
(Unaudited)
THREE MONTHS ENDED
SEPTEMBER 30,
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1997 1996
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PRIMARY INCOME PER SHARE
Computation for statement of operations
Net income per statement of operations $ 5,513 $ 8,204
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Common shares outstanding 70,376 60,252
Adjustment to weighted average common shares outstanding:
Add dilutive effect of:
Employee Options 2,323 4,006
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Weighted average common shares and common
equivalent shares outstanding, as adjusted 72,699 64,258
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Net income per common share,
as adjusted $ .08 $ .13
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FULLY DILUTED INCOME PER SHARE
Net income applicable to common stock as
shown in primary computation above $ 5,513 $ 8,204
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Common shares outstanding 70,376 60,252
Adjustment to weighted average common shares outstanding:
Add fully dilutive effect of:
Employee Options 2,867 4,086
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Weighted average common shares and common
equivalent shares outstanding, as adjusted 73,243 64,338
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Fully diluted net income per common share $ .08 $ .13
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