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Exhibit 11 Omnicare, Inc. and Subsidiary Companies
Computation of Earnings Per Common Share
(in thousands, except per share data)
THREE MONTHS ENDED SIX MONTHS ENDED
JUNE 30, JUNE 30,
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1995 1994 1995 1994
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Primary Earnings*
Net income $ 4,896 $ 3,563 $10,147 $ 6,972
Aftertax expense related to preferred
stock dividend payable to minority
interest in subsidiary 3 - 6 -
Minority interest in net income of
subsidiary (6) - (10) -
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Net income as adjusted $ 4,893 $ 3,563 $10,143 $ 6,972
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Shares
Weighted average number of common
shares outstanding 26,230 22,111 26,100 22,087
Additional shares assuming conversion of:
Stock options and stock warrants 610 342 622 324
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Average common shares outstanding and
equivalent as adjusted 26,840 22,453 26,722 22,411
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Primary earnings per common share $ 0.18 $ 0.16 $ 0.38 $ 0.31
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Fully Diluted Earnings
Net income $ 4,896 $ 3,563 $10,147 $ 6,972
Aftertax expense related to preferred stock
divided payable to minority interest in
subsidiary 3 - 6 -
Minority interest in net income of subsidiary (6) - (10) -
Aftertax interest expense related to 5 3/4%
convertible subordinated debentures 802 811 1,605 1,621
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Net income as adjusted $ 5,695 $ 4,374 $11,748 $ 8,593
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Shares
Weighted average number of common
shares outstanding 26,230 22,111 26,100 22,087
Additional shares assuming conversion of:
Stock options and stock warrants 701 380 715 344
Convertible subordinated debentures 5,575 5,576 5,575 5,576
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Average common shares outstanding and
equivalents as adjusted 32,506 28,067 32,390 28,007
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Fully diluted earnings per common share $ 0.18 $ 0.16 $ 0.36 $ 0.31
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* This calculation is submitted in accordance with Regulation S-K Item
602(b)(11) although not required by footnote 2 to paragraph 14 of APB
Opinion No. 15 if it results in dilution of less than 3% or is
anti-dilutive.