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EXHIBIT 11
GenCorp Inc.
COMPUTATION OF EARNINGS PER COMMON SHARE
Unaudited Unaudited
Three Months Ended Six Months Ended
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May 31, May 31, May 31, May 31,
1995 1994 1995 1994
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Earnings (Dollars in Millions)
- --------
Income Before Cumulative Effect
of Accounting Changes $ 16.3 $ 14.2 $ 23.3 $ 11.0
Cumulative Effect of Accounting Changes - - - (212.7)
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Net Income (Loss) for Primary Earnings
Per Share 16.3 14.2 23.3 (201.7)
Tax Affected Interest Expense
Applicable to 8% Convertible
Subordinated Debentures 1.4 1.4 2.8 2.8
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Net Income (Loss) for Fully Diluted
Earnings Per Share $ 17.7 $ 15.6 $ 26.1 $ (198.9)
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Shares (In Thousands)
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Weighted Average Number of Common
Shares Outstanding for Primary
Earnings Per Share 32,532 31,730 32,396 31,730
Assuming Conversion of 8% Convertible
Subordinated Debentures 7,159 7,159 7,159 7,159
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Weighted Average Number of Common
Shares Outstanding for Fully Diluted
Earnings Per Share 39,691 38,889 39,555 38,889
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Earnings Per Share
- ------------------
Income Before Cumulative Effect
of Accounting Changes $ .50 $ .45 $ .72 $ .35
Cumulative Effect of Accounting Changes - - - (6.71)
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Net Income (Loss) for Primary Earnings
Per Share $ .50 $ .45 $ .72 $ (6.36)
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Fully Diluted Earnings Per Share $ .45 $ .40 $ .66 $ (6.36)
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