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EXHIBIT 11
FERRO CORPORATION AND SUBSIDIARIES
STATEMENT REGARDING COMPUTATION OF EARNINGS PER SHARE
June June
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2001 2000
3 Months 6 Months 3 Months 6 Months
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Basic:
Weighted Average Common Shares Outstanding 34,221,922 34,200,352 34,634,937 34,774,715
Net Income 7,013 20,978 20,154 38,552
Less Preferred Stock Dividend, Net of Tax (775) (1,570) (875) (1,781)
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Net Income Available to Common Shareholders $ 6,238 $ 19,408 $ 19,279 $ 36,771
Basic Earnings Per Common Share $ 0.18 $ 0.57 $ 0.56 $ 1.06
Diluted:
Weighted Average Common Shares Outstanding 34,221,922 34,200,352 34,634,937 34,774,715
Adjustments for assumed conversion of convertible
preferred stock and common stock options 253,528(1) 2,885,671 3,293,473 3,200,776
------------ ------------ ------------ ------------
34,475,450 37,086,023 37,928,410 37,975,491
Net Income (A) $ 6,238 $ 20,978 $ 20,154 $ 38,552
Tax effect on assumed conversion of convertible
preferred stock 0 (294) (164) (334)
------------ ------------ ------------ ------------
Adjusted Net Income $ 6,238 $ 20,684 $ 19,990 $ 38,218
Diluted Earnings Per Share $ 0.18 $ 0.56 $ 0.53 $ 1.01
(1) The preferred shares were anti-dilitive in the three months ended June 30,
2001 and are thus not included in the diluted shares outstanding.
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