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15
RPM, INC. AND SUBSIDIARIES
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CONSOLIDATED STATEMENTS OF COMPUTATIONS OF EARNINGS
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PER COMMON SHARE AND COMMON SHARE EQUIVALENTS
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(Unaudited)
Exhibit 11.1
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(In thousands, except per share amounts)
Nine Months Ended Three Months Ended
February 28, February 28,
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1998 1997 1998 1997
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Shares Outstanding
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For computation of basic earnings per
common share
Weighted average shares 98,174 97,048 98,278 97,456
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Total shares for basic earnings
per share 98,174 97,048 98,278 97,456
For computation of diluted earnings
per common share
Net issuable common share equivalents 907 610 947 729
Additional shares issuable assuming
conversion of convertible securities 12,185 12,209 12,185 12,209
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Total shares for diluted
earnings per share 111,266 109,867 111,410 110,394
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Net Income
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Net income applicable to common shares for
basic earnings per share $ 55,157 $ 49,997 $ 5,526 $ 7,508
Add back interest net of tax on convertible
securities assumed to be converted 4,112 3,907 1,384 1,317
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Net income applicable to common shares for
diluted earnings $ 59,269 $ 53,904 $ 6,910 $ 8,825
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Basic Earnings Per Common Share * $ .56 $ .52 $ .06 $ .08
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Diluted Earnings Per Common Share * $ .53 $ .49 $ .06 $ .08
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<FN>
* Data at February 28, 1997 has been restated to reflect a 25% stock dividend
issued on December 8, 1997.
The accompanying notes to consolidated financial statements are an integral part
of these statements.