1
RPM, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF COMPUTATIONS OF EARNINGS
PER COMMON SHARE AND COMMON SHARE EQUIVALENTS
(Unaudited)
Exhibit XI
(In thousands, except per share amounts)
Six Months Ended November 30,
------------------------------
1992
1993 (Restated)
-------- --------
Shares Outstanding
For computation of primary earnings per
common share
Weighted average shares 56,020 52,875
Net issuable common share equivalents 350 352
-------- --------
Total shares for primary earnings
per share 56,370 53,227
For computation of fully-diluted earnings
per common share
Additional shares issuable assuming
conversion of convertible securities 8,483 6,281
Additional common shares equivalents;
ending market value higher than
average market value - 67
-------- --------
Total shares for fully-diluted
earnings per share 64,853 59,575
======== ========
Net Income
Net income applicable to common shares for
primary earnings per share $29,195 $22,113
Add back interest net of tax on convertible
securities assumed to be converted 2,393 1,736
-------- --------
Net income applicable to common shares for
fully-diluted earnings $31,588 $23,849
======== ========
Earnings Per Common Share and Common Share
Equivalents $.52 $.42
==== ====
Earnings Per Common Share Assuming Full
Dilution $.49 $.40
==== ====
<FN>
Data for November 1992 has been restated to reflect the acquisitions of Dynatron/Bondo Corporation
on June 8, 1993 and of Stonhard, Inc. on October 26, 1993, both accounted for as a pooling of interests.