1
Exhibit 11 Omnicare, Inc. and Subsidiary Companies
Computation of Earnings Per Common Share
(in thousands, except per share data)
Three Months Ended Six Months Ended
June 30, June 30,
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1997 1996 1997 1996
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Primary Earnings
Net income $15,138 $ 10,396 $28,581 $ 18,525
Other 10 (22) 14 (28)
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Net income as adjusted $15,148 $ 10,374 $28,595 $ 18,497
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Shares
Weighted average number of common
shares outstanding 80,143 65,123 79,110 59,425
Additional shares assuming conversion of:
Stock options and stock warrants 106 2,218 129 2,170
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Average common shares outstanding and
equivalent as adjusted 80,249 67,341 79,239 61,595
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Primary earnings per common share $ 0.19* $ 0.15 $ 0.36* $ 0.30
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Fully Diluted Earnings
Net income $15,138 $ 10,396 $28,581 $ 18,525
Aftertax interest expense related to 5 3/4%
convertible subordinated debentures -- 755 -- 1,553
Other 10 (22) 14 (28)
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Net income as adjusted $15,148 $ 11,129 $28,595 $ 20,050
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Shares
Weighted average number of common
shares outstanding 80,143 65,123 79,110 59,425
Additional shares assuming conversion of:
Stock options and stock warrants 297 2,218 225 2,239
Convertible subordinated debentures -- 10,484 -- 10,798
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Average common shares outstanding and
equivalents as adjusted 80,440 77,825 79,335 72,462
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Fully diluted earnings per common share $ 0.19* $ 0.14 $ 0.36* $ 0.28
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<FN>
* 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.