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EXHIBIT 11-2Q
LSI INDUSTRIES INC.
STATEMENT RE COMPUTATION OF EARNINGS PER SHARE
(IN THOUSANDS, EXCEPT PER SHARE)
Three Months Ended Six Months Ended
December 31 December 31
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1997 1996 1997 1996
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BASIC EARNINGS PER SHARE
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Net Income $3,680 $2,718 $6,655 $4,854
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Weighted Average Shares Outstanding
Weighted average shares
outstanding during the period,
net of treasury shares 9,542 9,017 9,533 9,006
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Basic Earnings per Share $ .39 $ .30 $ .70 $ .54
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DILUTED EARNINGS PER SHARE
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Net Income $3,680 $2,718 $6,655 $4,854
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Weighted Average Shares Outstanding
Weighted average shares
outstanding during the period,
net of treasury shares 9,542 9,017 9,533 9,006
Effect of Dilutive Securities:
Common Shares to be issued
under stock option plans and
a deferred compensation plan 222 149 202 204
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Average Shares Outstanding 9,764 9,166 9,735 9,210
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Diluted Earnings per Share $ .38 $ .30 $ .68 $ .53
[see (A) and (B) below] ====== ====== ====== ======
(A) Calculated using the "Treasury Stock" method as if options were
exercised and the funds were used to purchase Common Shares at the
average market price during the period.
(B) Options to purchase 500 common shares and 311,141 common shares
during the quarters ended December 31, 1997 and 1996, respectively,
and 14,716 common shares and 16,452 common shares during the six
month periods ended December 31, 1997 and 1996, respectively, were
not included in the computation of diluted earnings per share because
the exercise price was greater than the average fair market value of
the common shares.
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