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EXHIBIT 11
Schawk, Inc.
Computation of Net (Loss) Income Per Common and Common Equivalent Share and
Pro Forma Net Income Per Common and Common Equivalent Share
Adjusted for Merger, Purchase Accounting and Income Taxes
(In Thousands, Except Per Share Amounts)
Year Ended December 31,
(Pro forma)
1996 1995 1994
PRIMARY: --------------------------------
Average number of shares used to compute
primary earnings per share 19,469 19,138 7,330
Common stock issuable upon assumed conversion
of stock option exercises 76 65 247
Shares issued in share exchange -- -- 16,245
Shares cancelled in share exchange -- -- (4,279)
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Total 19,545 19,203 19,543
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Net (loss) income available for common stock $(26,234) $5,576 --
Pro forma net income adjusted for merger,
purchase accounting and income taxes -- -- $12,585
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Primary earnings per share $ (1.34) $ 0.29 --
Pro forma primary earnings per share adjusted
for merger, purchase accounting and income
taxes -- -- $ 0.64
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FULLY DILUTED (1):
Average number of shares used to compute fully
diluted earnings per share 19,469 19,138 7,330
Common stock issuable upon assumed conversion
of stock option exercises 123 65 279
Shares issued in share exchange -- -- 16,245
Shares cancelled in share exchange -- -- (4,279)
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Total 19,592 19,203 19,575
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Net income available for common stock $(26,234) $5,576 --
Pro forma net income adjusted for merger,
purchase accounting and income taxes -- -- $12,585
--------------------------------
Fully diluted earnings per share $ (1.34) $ 0.29 --
Pro forma fully diluted earnings per share
adjusted for merger, purchase accounting and
income taxes -- -- $ 0.64
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(1) This calculation is submitted in accordance with Regulation S-K item
601(b) (11) although it is contrary to
paragraph 40 of APB Opinion No. 15 because it produces a fully diluted
earnings per share within 3% of
primary earnings per share.