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EXHIBIT 11
GenCorp Inc.
COMPUTATION OF EARNINGS PER COMMON SHARE
Unaudited Unaudited
Three Months Ended Nine Months Ended
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Aug. 31, Aug. 31, Aug. 31, Aug. 31,
1995 1994 1995 1994
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Earnings (Dollars in Millions)
- --------
Income Before Cumulative Effect
of Accounting Changes $ 8.0 $ 6.4 $ 31.3 $ 17.4
Cumulative Effect of Accounting Changes - - - (212.7)
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Net Income (Loss) for Primary Earnings
Per Share 8.0 6.4 31.3 (195.3)
Tax Affected Interest Expense
Applicable to 8% Convertible
Subordinated Debentures 1.4 1.4 4.1 4.1
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Net Income (Loss) for Fully Diluted
Earnings Per Share $ 9.4 $ 7.8 $ 35.4 $ (191.2)
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Shares (In Thousands)
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Weighted Average Number of Common
Shares Outstanding for Primary
Earnings Per Share (see Note C) 33,362 31,731 32,620 31,731
Assuming Conversion of 8% Convertible
Subordinated Debentures 7,158 7,158 7,158 7,158
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Weighted Average Number of Common
Shares Outstanding for Fully Diluted
Earnings Per Share 40,520 38,889 39,778 38,889
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Earnings Per Share
- ------------------
Income Before Cumulative Effect
of Accounting Changes $ .24 $ .20 $ .96 $ .55
Cumulative Effect of Accounting Changes - - - (6.71)
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Net Income (Loss) for Primary Earnings
Per Share $ .24 $ .20 $ .96 $ (6.16)
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Fully Diluted Earnings Per Share $ .23 $ .20 $ .89 $ (6.16)
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