1
14
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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1999 1998 1999 1998
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SHARES OUTSTANDING
For computation of basic earnings per
common share
Weighted average shares 108,366 98,174 110,707 98,278
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Total shares for basic earnings
per share 108,366 98,174 110,707 98,278
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For computation of diluted earnings
per common share
Net issuable common share equivalents 653 907 528 947
Additional shares associated with
conversion of convertible securities 2,773 -- -- --
Additional shares issuable assuming
conversion of convertible securities -- 12,185 -- 12,185
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Total shares for diluted
earnings per share 111,792 111,266 111,235 111,410
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NET INCOME
Net income applicable to common shares for
basic earnings per share $ 59,066 $ 55,157 $ 6,130 $ 5,526
Add back interest net of tax on convertible
securities assumed to be converted 1,002 4,112 -- 1,384
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Net income applicable to common shares for
diluted earnings $ 60,068 $ 59,269 $ 6,130 $ 6,910
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Basic Earnings Per Common Share $ .55 $ .56 $ .06 $ .06
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Diluted Earnings Per Common Share $ .54 $ .53 $ .06 $ .06
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The accompanying notes to consolidated financial statements are an integral part
of these statements.