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EXHIBIT 11
DAISYTEK INTERNATIONAL CORPORATION AND SUBSIDIARIES
STATEMENTS RE: COMPUTATION OF EARNINGS PER SHARE
(IN THOUSANDS, EXCEPT PER SHARE DATA)
Three Months Ended
June 30,
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1998 1997
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Net income $ 5,393 $ 4,100
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Net income per common share - diluted $ 0.30 $ 0.27
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Pro forma data(2):
Historical net income $ 5,393 $ 4,100
Pro forma adjustments:
Provision for income taxes (291) (82)
Acquisition related costs, net of tax 246 --
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Pro forma net income 5,348 4,018
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Pro forma net income per common share - diluted $ 0.30 $ 0.27
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Weighted average of common shares outstanding 17,814 14,983
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Calculation of weighted average common shares
outstanding:
Weighted average of common stock outstanding 17,005 14,339
Weighted average common stock options, utilizing
the treasury stock method(1) 809 644
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17,814 14,983
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(1) Utilizing the weighted average stock price of $24.38 and $15.88 per
share for the three months ended June 30, 1998 and 1997, respectively.
(2) Pro forma data is presented for informational purposes only and
includes the following adjustments: (1) A business unit of a business
combination with The Tape Company, Inc., which was accounted for as
a pooling of interests, was organized as a subchapter S corporation,
whereby income taxes were paid individually by the owners. The pro
forma provision for income tax adjustment is provided to reflect income
tax under a corporate tax structure. (2) Daisytek incurred various
acquisition related accounting, legal and other costs applicable to the
acquisition of The Tape Company. The pro forma adjustment for
acquisition related costs, net of tax, excludes such costs from pro
forma net income for the three months ended June 30, 1998.