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EXHIBIT 11
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PARK-OHIO INDUSTRIES AND SUBSIDIARIES
COMPUTATION OF NET INCOME PER COMMON SHARE
(In Thousands - Except per Share Data)
Three Months Ended Nine Months Ended
September 30 September 30
1995 1994 1995 1994
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Net income $ 3,014 $ 1,640 $ 11,576 $ 8,051
Amortization of imputed goodwill
associated with the earnout shares (21) (150) (56) (335)
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Net income related to shareholders of
Common Stock (Primary) 2,993 1,490 11,520 7,716
Interest associated with convertible
senior subordinated debentures 403 402 1,209 604
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Net income related to shareholders of
Common Stock (Fully diluted) $ 3,396 $ 1,892 $ 12,729 $ 8,320
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PRIMARY COMPUTATION
Average shares outstanding during the
period 10,402 7,040 9,677 6,919
Effect of Kay Home Products, Inc.
earnout shares deemed to be issued
(Note A) -0- 1,150 -0- 734
Effect of General Aluminum Mfg.
Company earnout shares deemed to
be issued 188 188 188 188
Effect of dilutive stock options based
on the treasury stock method using
the average market price for the
period 209 145 175 154
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Shares used 10,799 8,523 10,040 7,995
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Net income per share of Common Stock $ .28 $ .17 $ 1.15 $ .97
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FULLY DILUTED COMPUTATION
Average shares outstanding per primary
computation above 10,799 8,523 10,040 7,995
Additional effect of dilutive stock
options based on the treasury stock
method using the end of period market
price, if higher than the average
market price -0- -0- -0- -0-
Effect of assuming conversion of the
convertible senior subordinated
debentures 1,151 1,151 1,151 579
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Shares used 11,950 9,674 11,191 8,574
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Net income per share of Common Stock* $ .28 $ .20 $ 1.14 $ .97
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<FN>
*Disclosure not presented in the consolidated condensed statement of income
because the effect is either anti-dilutive or is not material.
NOTE A - Shares issued in January, 1995, and are included in average shares outstanding for the three and
nine-month periods ended September 30, 1995.
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