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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,
1996 1995 1996 1995
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EARNINGS (Dollars in Millions)
Net Income for Primary Earnings
Per Share 15.9 8.0 18.3 31.3
Tax Affected Interest Expense
Applicable to 8% Convertible
Subordinated Debentures 1.4 1.4 4.1 4.1
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Net Income for Fully Diluted Earnings
Per Share $ 17.3 $ 9.4 $ 22.4 $ 35.4
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SHARES (In Thousands)
Weighted Average Number of Common
Shares Outstanding for Primary
Earnings Per Share (see Note B) 33,734 33,362 33,622 32,620
Additional Shares Issuable Under Stock
Options for Fully Diluted Earnings Per
Share 1 - 72 -
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 40,893 40,520 40,852 39,778
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EARNINGS PER SHARE
Primary: $ .47 $ .24 $ .55 $ .96
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Fully Diluted: $ .42 $ .23 $ .55 $ .89
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