SFX BROADCASTING, INC. AND SUBSIDIARIES
EXHIBIT 11.1
Statement Regarding Calculation of Per Share Earnings
(Dollars in thousands, Except for per share amounts)
Three Months Ended June 30,
1996 1995
--------------- ----------------
Primary and Fully Diluted:
Average shares outstanding...................................................... 7,437,642 5,749,999
Net effect of dilutive stock options - based on the treasury stock method
using average market price..................................................... -- 226,059
--------------- ----------------
Total...................................................................... 7,437,642 5,976,058
=============== ================
Net loss........................................................................ $ (42,074) $ (2,550)
Less: preferred stock dividends and accretion................................... 831 73
--------------- ----------------
Net loss attributable to common shareholders.................................... (42,905) (2,623)
=============== ================
Net loss per common shares...................................................... $ (5.77) $ (0.44)
=============== ================
Six Months Ended June 30,
1996 1995
--------------- ----------------
Primarly and Fully Diluted:
Average shares outstanding...................................................... 7,447,929 5,749,999
Net effect of dilutive stock options - based on the treasury stock method
using average market price...................................................... -- 196,252
--------------- ----------------
Total...................................................................... 7,447,929 5,946,251
=============== ================
Net loss........................................................................ $ (43,059) $ (3,071)
Less: preferred stock dividends and accretion................................... 967 144
--------------- ----------------
Net loss attributable to common shareholders.................................... (44,026) (3,215)
=============== ================
Net loss per common share....................................................... $ (5.91) $ (0.54)
=============== ================