1
17
RPM, INC. AND SUBSIDIARIES
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CONSOLIDATED STATEMENTS OF COMPUTATIONS OF EARNINGS
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PER COMMON SHARE AND COMMON SHARE EQUIVALENTS
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(Unaudited)
Exhibit XI
(In thousands, except per share amounts) -----------
SIX MONTHS ENDED NOVEMBER 30,
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1995 1994 *
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Shares Outstanding
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For computation of primary earnings per
common share
Weighted average shares 72,798 70,976
Net issuable common share equivalents 459 398
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Total shares for primary earnings
per share 73,257 71,374
For computation of fully-diluted earnings
per common share
Additional shares issuable assuming
conversion of convertible securities 9,767 9,767
Additional common shares equivalents;
ending market value higher than
average market value 83 0
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Total shares for fully-diluted
earnings per share 83,107 81,141
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Net Income
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Net income applicable to common shares for
primary earnings per share $35,436 $33,663
Add back interest net of tax on convertible
securities assumed to be converted 2,459 2,335
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Net income applicable to common shares for
fully-diluted earnings $37,895 $35,998
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Earnings Per Common Share and Common Share
Equivalents $.48 $.47
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Earnings Per Common Share Assuming Full
Dilution $.46 $.44
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<FN>
* Share data has been restated to reflect a 25% stock dividend paid December 8, 1995.
The accompanying notes to consolidated financial statements are an integral
part of these statements