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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,
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1994 1993
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Shares Outstanding
For computation of primary earnings per
common share
Weighted average shares 56,781 56,020
Net issuable common share equivalents 318 350
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Total shares for primary earnings
per share 57,099 56,370
For computation of fully-diluted earnings
per common share
Additional shares issuable assuming
conversion of convertible securities 7,813 8,483
Additional common shares equivalents;
ending market value higher than _ _
average market value ------------- -------------
Total shares for fully-diluted
earnings per share 64,912 64,853
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Net Income
Net income applicable to common shares for
primary earnings per share $33,663 $29,195
Add back interest net of tax on convertible
securities assumed to be converted 2,335 2,393
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Net income applicable to common shares for
fully-diluted earnings $35,998 $31,588
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Earnings Per Common Share and Common Share
Equivalents $.59 $.52
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Earnings Per Common Share Assuming Full
Dilution $.55 $.49
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The accompanying notes to consolidated financial statements
are an integral part of these statements.