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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 Six Months Ended
September 30, September 30,
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1998 1997 1998 1997
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Net income $ 5,236 $ 4,147 $ 10,629 $ 8,247
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Net income per common share - diluted $ 0.30 $ 0.27 $ 0.60 $ 0.54
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Pro forma data (2):
Historical net income $ 5,236 $ 4,147 $ 10,629 $ 8,247
Pro forma adjustments:
Provision for income taxes -- (92) (291) (174)
Acquisition related costs, net of tax -- -- 246 --
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Pro forma net income 5,236 4,055 10,584 8,073
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Pro forma net income per common
share - diluted $ 0.30 $ 0.26 $ 0.60 $ 0.53
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Weighted average common and common share
equivalents outstanding 17,723 15,395 17,769 15,209
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Calculation of weighted average common and
common share equivalents outstanding:
Weighted average of common stock outstanding
17,105 14,567 17,055 14,453
Weighted average common stock options,
utilizing the treasury stock method (1) 618 828 714 756
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17,723 15,395 17,769 15,209
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(1) Utilizing the weighted average stock price of $21.76 and $23.06 per
share for the three and six months ended September 30, 1998,
respectively, and the weighted average stock price (split adjusted) of
$21.74 and $18.83 per share for the three and six months ended
September 30, 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 six months ended September 30, 1998.