1
Exhibit 11
Meridian Diagnostics, Inc.
and Subsidiaries
Computation of Earnings Per Common Share
For the Periods Ended September 30, 1997, 1996 and 1995
Weighted Avg. Number of Earnings Per
Common Shares Outstanding Net Income Common Share Use
------------------------- ---------- ------------ ---
YEAR ENDED SEPTEMBER 30, 1997:
Shares Outstanding October 1, 1996 14,278,578 $ -- $ --
Weighted average shares issued during fiscal
1997 (86,711 shares) 63,207 -- --
Net Income -- 5,982,085 --
---------- ---------- --------
Primary Earnings Per Common Share 14,341,785 $5,982,085 $ 0.4171 $0.42
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Effect of outstanding stock options which is
less than 3% and not required to be disclosed in
financial statements (645,441 shares) 319,427 -- --
---------- ---------- --------
14,661,212 $5,982,085 $ 0.4080
Additional effect of stock options at year-
end stock price 60,289 -- --
---------- ---------- --------
Fully Diluted Earnings Per Common Share 14,721,501 $5,982,085 $ 0.4064
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YEAR ENDED SEPTEMBER 30, 1996:
Shares Outstanding October 1, 1995 12,924,814 $ -- $ --
Weighted average shares issued during
the period (1,353,764 shares) 1,247,169 -- --
Net Income -- 5,292,175 --
---------- ---------- --------
14,171,983 $5,292,175 $ 0.3734
Effect of outstanding stock options
(777,586 shares) 495,105 -- --
---------- ---------- --------
Primary Earnings Per Common Share 14,667,088 $5,292,175 $ 0.3608 $0.36
=====
Effect of 1993 convertible debentures 90,566 26,824 --
---------- ---------- --------
14,757,654 $5,318,999 $ 0.3604
Additional effect of stock options at
year-end stock price 2,619 -- --
---------- ---------- --------
Fully Diluted Earnings Per Common Share 14,760,273 $5,318,999 $ 0.3604
========== ========== =========
YEAR ENDED SEPTEMBER 30, 1995:
Shares Outstanding October 1, 1994 12,292,935 $ -- $ --
Weighted average shares issued during the
period (638,237 shares) 66,237 -- --
Weighted average shares redeemed for cash
as a result of stock dividend (398 shares) (320) -- --
Treasury shares repurchased (6,291 shares) (4,100) -- --
Net Income -- 3,524,111 --
---------- ---------- --------
Primary Earnings Per Common Share 12,354,752 $3,524,111 $ 0.2852 $0.29
=====
Effect of outstanding stock options which is
less than 3% and not required to be disclosed
in financial statements (663,553 shares) 318,872 -- --
---------- ---------- --------
12,673,624 $3,524,111 $ 0.2781
Effect of convertible debentures 1,832,891 489,760 --
---------- ---------- --------
14,506,515 $4,013,871 $ 0.2767
Additional effect of stock options at year-end
stock price 35,088 -- --
---------- ---------- --------
Fully Diluted Earnings Per Common Share 14,541,603 $4,013,871 $ 0.2760 $0.28
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