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EXHIBIT (11)
SONOCO PRODUCTS COMPANY
COMPUTATION OF EARNINGS PER SHARE (UNAUDITED)
(Dollars in thousands, except per share)
Three Months Ended
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April 2, April 3,
1995 1994
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PRIMARY EARNINGS*
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Net income available to common shareholders $ 35,596 $ 26,159
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Common shares
Weighted average number of shares outstanding 86,841,446 87,177,770
Assuming exercise of options reduced by
the number of shares which could have been
purchased (at average price) with proceeds
from exercise of such options 1,290,960 1,269,834
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Weighted average number of shares
outstanding as adjusted 88,132,406 88,447,604
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Primary earnings per common share $ .40 $ .30
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ASSUMING FULL DILUTION
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Net income available to common shareholders $ 35,596 $ 26,159
Elimination of preferred dividends 1,941 1,941
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Fully diluted net income $ 37,537 $ 28,100
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Common shares
Weighted average number of shares outstanding 86,841,446 87,177,770
Assuming exercise of options reduced by the number
of shares which could have been purchased (at the
higher of the end-of-period price or the average)
with proceeds from exercise of such options 1,551,214 1,269,834
Assuming conversion of preferred stock 6,814,785 6,814,785
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Weighted average number of shares
outstanding as adjusted 95,207,445 95,262,389
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Earnings per common share assuming full dilution $ .39 $ .29
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* This calculation is submitted in accordance with Regulation S-K, Item
601(b)(11) although not required by footnote 2 to paragraph 14 of APB Opinion
No. 15 because it results in dilution of less than 3%.
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