1
EXHIBIT 11
FERRO CORPORATION AND SUBSIDIARIES
STATEMENT REGARDING COMPUTATION OF EARNINGS PER SHARE
--------------------------------------------------------------
SEPTEMBER SEPTEMBER
(Dollars in thousands, except per share data) 1999 1998
3 Months 9 Months 3 Months 9 Months
-------- -------- -------- --------
BASIC:
Weighted Average Common Shares Outstanding 35,367,865 35,203,803 35,921,884 36,755,125
Net Income 18,066 54,341 16,763 52,219
Less Preferred Stock Dividend, Net of Tax (950) (2,841) (948) (2,840)
--------------------------------------------------------------
Net Income Available to Common Shareholders $ 17,116 $ 51,500 $ 15,815 $ 49,379
BASIC EARNINGS PER COMMON SHARE $ 0.48 $ 1.46 $ 0.44 $ 1.34
DILUTED:
Weighted Average Common Shares Outstanding 35,367,865 35,203,803 35,921,884 36,755,125
Adjustments for assumed conversion of convertible
preferred stock and common stock options 3,642,667 4,375,694 3,657,613 4,097,147
--------------------------------------------------------------
39,010,532 39,579,477 39,579,497 40,852,272
Net Income $ 18,066 $ 54,341 $ 16,763 $ 52,219
Additional ESOP Contribution, Net of Tax (351) (1,060) (401) (1,220)
--------------------------------------------------------------
Adjusted Net Income $ 17,715 $ 53,281 $ 16,362 $ 50,999
DILUTED EARNINGS PER SHARE $ 0.45 $ 1.37 $ 0.41 $ 1.25
--------------------------------------------------------------