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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 Nine Months Ended
September 30, September 30,
------------------------ ------------------------
1995 1994 1995 1994
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Primary Earnings*
Net income $ 6,935 $ 2,062 $ 17,082 $ 9,034
Aftertax expense related to preferred
stock dividend payable to minority
interest in wholly-owned subsidiary 1 -- 7 --
Minority interest in net income of subsidiary (18) -- (28) --
-------- -------- -------- --------
Net income as adjusted $ 6,918 $ 2,062 $ 17,061 $ 9,034
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Shares
Weighted average number of common
shares outstanding 26,273 22,241 26,158 22,139
Additional shares assuming conversion of:
Stock options and stock warrants 847 398 697 350
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Average common shares outstanding and
equivalent as adjusted 27,120 22,639 26,855 22,489
======== ======== ======== ========
Primary earnings per common share $ 0.26 $ 0.09 $ 0.64 $ 0.40
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Fully Diluted Earnings
Net income $ 6,935 $ 2,062 $ 17,082 $ 9,034
Aftertax expense related to preferred stock
dividend payable to minority interest in
subsidiary 1 -- 7 --
Minority interest in net income of subsidiary (18) -- (28) --
Aftertax interest expense related to 5 3/4%
convertible subordinated debentures 802 794 2,407 2,415
-------- -------- -------- --------
Net income as adjusted $ 7,720 $ 2,856 $ 19,468 $ 11,449
======== ======== ======== ========
Shares
Weighted average number of common
shares outstanding 26,273 22,241 26,158 22,139
Additional shares assuming conversion of:
Stock options and stock warrants 985 406 807 364
Convertible subordinated debentures 5,572 5,576 5,572 5,576
-------- -------- -------- --------
Average common shares outstanding and
equivalents as adjusted 32,830 28,223 32,537 28,079
======== ======== ======== ========
Fully diluted earnings per common share $ 0.24 $ 0.10 $ 0.60 $ 0.41
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* This calculation is submitted in accordance with Regulation S-K Item
601(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.