1
RPM, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF COMPUTATIONS OF EARNINGS
PER COMMON SHARE AND COMMON SHARE EQUIVALENTS
(Unaudited)
Exhibit 11.1
(In thousands, except per share amounts)
Three Months Ended August 31,
-----------------------------
1996 1995
------- -------
Restated *
Shares Outstanding
For computation of primary earnings per
common share
Weighted average shares 77,459 73,314
Net issuable common share equivalents 373 482
------- -------
Total shares for primary earnings
per share 77,832 73,796
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 73 8
------- -------
Total shares for fully-diluted
earnings per share 87,672 83,571
======= =======
Net Income
Net income applicable to common shares for
primary earnings per share $23,956 $19,993
Add back interest net of tax on convertible
securities assumed to be converted 1,284 1,219
------- -------
Net income applicable to common shares for
fully-diluted earnings $25,240 $21,212
======= =======
Earnings Per Common Share and Common Share
Equivalents $ .31 $ .27
------- -------
Earnings Per Common Share Assuming Full
Dilution $ .29 $ .25
------- -------
*Data for August 31, 1995 has been restated to reflect a 25% stock dividend paid
on December 8, 1995, and to reflect the January 12, 1996 acquisition of
TCI, Inc. accounted for under the pooling-of-interests method.
The accompanying notes to consolidated financial statements are an integral part
of these statements.