1
EXHIBIT 11
PONDER INDUSTRIES, INC., AND SUBSIDIARIES
COMPUTATION OF EARNINGS (LOSS) PER SHARE
(In Thousands, Except Share Information)
Three Months Ended
November 30
----------------------------------
1997 1996
------------ ------------
COMPUTATION OF PRIMARY LOSS PER SHARE:
Net loss $ (424) $ (882)
============ ============
WEIGHTED AVERAGE NUMBER OF SHARES OF COMMON STOCK OUTSTANDING 25,029,799 12,243,850
WEIGHTED AVERAGE INCREMENTAL SHARES OUTSTANDING UPON ASSUMED CONVERSION OF OPTIONS
AND WARRANTS (b) -- --
------------ ------------
WEIGHTED AVERAGE COMMON SHARES AND COMMON SHARE EQUIVALENTS USED FOR COMPUTATION 25,029,799 12,243,850
============ ============
PRIMARY LOSS PER COMMON SHARE AND COMMON SHARE EQUIVALENTS $ (.02) $ (.07)
============ ============
COMPUTATION OF FULLY DILUTED LOSS PER SHARE:
Net loss $ (424) $ (882)
Interest not incurred upon assumed conversion of Senior Notes (1997) and
convertible debentures (1996) 24 182
------------ ------------
Net loss available to common stockholders used for computation $ (400) $ (700)
============ ============
WEIGHTED AVERAGE NUMBER OF SHARES OF COMMON STOCK OUTSTANDING 25,029,799 12,243,850
WEIGHTED AVERAGE INCREMENTAL SHARES OUTSTANDING UPON ASSUMED CONVERSION OF OPTIONS
AND WARRANTS 3,704,885 15,994
WEIGHTED AVERAGE INCREMENTAL SHARES OUTSTANDING UPON ASSUMED CONVERSION OF SENIOR
NOTES (1997) AND CONVERTIBLE DEBENTURES (1996) 1,318,681 6,492,311
------------ ------------
WEIGHTED AVERAGE COMMON SHARES AND COMMON SHARE EQUIVALENTS USED FOR COMPUTATION 30,053,365 18,752,155
============ ============
EARNINGS (LOSS) PER COMMON SHARE AND COMMON SHARE EQUIVALENT ASSUMING FULL DILUTION $ (.01)(a) $ (.04)(a)
============ ============
(a) This calculation is submitted in accordance with Item 601(b)(11) of
Regulation S-K although it is not required by APB Opinion No. 15 because
it is antidilutive.
(b) The options and warrants have an antidilutive effect in periods with
losses and are, therefore, excluded from the computation.