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EXHIBIT 11
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COMMERCIAL METALS COMPANY AND SUBSIDIARIES
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CALCULATION OF PRIMARY AND FULLY DILUTED EARNINGS PER SHARE*
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( In thousands except share data )
YEAR ENDED AUGUST 31,
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1997 1996 1995
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Net earnings $ 38,605 $ 46,024 $ 38,208
Weighted average number
of shares outstanding 15,005,217 15,106,882 14,895,475
Dilutive effect of stock option and
purchase plans, after application
of treasury stock method 227,532 199,531 255,597
Shares used in calculating primary
net earnings per share 15,232,749 15,306,413 15,151,072
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Net earnings per share $ 2.53 $ 3.01 $ 2.52
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*Fully diluted earnings per share are identical to primary earnings per share.