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EXHIBIT 11.1
KERR GROUP, INC.
Statement Re: Computation of Per Share Earnings (Loss)
Years Ended December 31,
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1993 1992 1991 1990 1989
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(in thousands, except per share data)
Primary Net Earnings (Loss) Per
Common Share
Net earnings (loss) ($1,633) ($2,697) ($2,579) ($1,252) $281
Less Preferred Stock dividends (829) (829) (829) (829) (829)
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Net loss applicable to primary
loss per common share ($2,462) ($3,526) ($3,408) ($2,081) ($548)
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Weighted average number of
common shares outstanding 3,669 3,675 3,675 3,675 3,666
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Primary net loss per common share ($0.67) ($0.96) ($0.93) ($0.57) ($0.15)
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Fully Diluted Net Earnings (Loss) Per
Common Share
Net loss applicable to primary loss
per common share ($2,462) ($3,526) ($3,408) ($2,081) ($548)
Add Preferred Stock dividends 829 829 829 829 829
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Net earnings (loss) applicable to
fully diluted earnings (loss)
per common share ($1,633) ($2,697) ($2,579) ($1,252) $281
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Weighted average number of
common shares outstanding 3,669 3,675 3,675 3,675 3,666
Common shares issuable from assumed
conversion of Preferred Stock 709 709 709 709 709
Incremental common shares
issuable upon assumed exercise
of outstanding stock options 6 3 - 1 5
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Adjusted weighted average number
of common shares outstanding 4,384 4,387 4,384 4,385 4,380
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Fully diluted net earnings (loss)
common share:
As computed ($0.37) ($0.61) ($0.59) ($0.29) $0.06
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As reported (a) ($0.67) ($0.96) ($0.93) ($0.57) ($0.15)
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(a) Fully diluted net earnings (loss) per common share are anti-dilutive
for all years.