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SPELLING ENTERTAINMENT GROUP INC.
EXHIBIT 11 - COMPUTATION OF NET INCOME (LOSS) PER COMMON
AND COMMON EQUIVALENT SHARE
(IN THOUSANDS, EXCEPT PER SHARE DATA)
Three Months Ended Six Months Ended
June 30, June 30,
--------------------- ---------------------
1997 1996 1997 1996
-------- -------- -------- --------
Net income (loss):
Continuing operations $ 3,037 $ (1,751) $ 3,765 $ (2,109)
Discontinued operations -- (20,235) -- (23,623)
-------- -------- -------- --------
Net income (loss) $ 3,037 $(21,986) $ 3,765 $(25,732)
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Shares:
Basic shares - weighted average of common shares
outstanding 90,730 90,409 90,725 90,255
Additional shares assuming conversion of stock
options and warrants -- -- -- --
-------- -------- -------- --------
Primary shares 90,730 90,409 90,725 90,255
Additional shares, when dilutive, assuming full
dilution of stock options and warrants -- -- -- --
-------- -------- -------- --------
Fully diluted shares 90,730 90,409 90,725 90,255
======== ======== ======== ========
Basic, primary and fully diluted net income (loss)
per common and common
equivalent share:
Continuing operations $ 0.03 $ (0.02) $ 0.04 $ (0.03)
Discontinued operations -- (0.22) -- (0.26)
-------- -------- -------- --------
Net income (loss)
per common and common equivalent share $ 0.03 $ (0.24) $ 0.04 $ (0.29)
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Note 1: This calculation is submitted in accordance with the Securities Exchange
Act of 1934 although not required by footnote 2 to paragraph 14 of APB
Opinion No. 15 because the calculation of primary and fully diluted net
income (loss) per common and common equivalent share results in a
dilution of less than 3% or is anti-dilutive.