1
Exhibit 11 Omnicare, Inc. and Subsidiary Companies
Computation of Earnings Per Common Share
(in thousands, except per share data)
Three Months Ended
March 31,
1997 1996
------- --------
Primary Earnings
Net income $13,443 $ 8,129
Other 4 (6)
------- --------
Net income as adjusted $13,447 $ 8,123
======= ========
Shares
Weighted average number of common
shares outstanding 78,065 53,726
Additional shares assuming conversion of
stock options and stock warrants 153 2,122
------- --------
Average common shares outstanding and
equivalent as adjusted 78,218 55,848
======= ========
Primary earnings per common share $ 0.17* $ 0.15
======= ========
Fully Diluted Earnings
Net income $13,443 $ 8,129
Aftertax interest expense related to 5 3/4%
convertible subordinated debentures -- 798
Other 4 (6)
------- --------
Net income as adjusted $13,447 $ 8,921
======= ========
Shares
Weighted average number of common
shares outstanding 78,065 53,726
Additional shares assuming conversion of:
Stock options and stock warrants 153 2,262
Convertible subordinated debentures -- 11,110
------- --------
Average common shares outstanding and
equivalents as adjusted 78,218 67,098
======= ========
Fully diluted earnings per common share $ 0.17* $ 0.13
======= ========
* 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.