EXHIBIT 11
IVAX CORPORATION AND SUBSIDIARIES
COMPUTATION OF EARNINGS PER SHARE
(In thousands, except per share data)
THREE MONTHS SIX MONTHS
1995 1994 1995 1994
PERIOD ENDED JUNE 30, -------- -------- -------- --------
PRIMARY EARNINGS PER COMMON SHARE:
Income before extraordinary items $ 28,125 $ 26,635 $ 51,428 $ 51,603
Extraordinary items (20) 296 34 (1,352)
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Net income for primary computation $ 28,105 $ 26,931 $ 51,462 $ 50,251
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Average number of common and dilutive common
equivalent shares-primary 118,741 116,206 118,061 116,263
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Earnings before extraordinary items $ .24 $ .23 $ .44 $ .44
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Net earnings $ .24 $ .23 $ .44 $ .43
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FULLY DILUTED EARNINGS PER COMMON SHARE:
Income before extraordinary items $ 28,125 $ 26,635 $ 51,428 $ 51,603
Adjustment for interest expense on 9.00% Convertible
Subordinated Debentures, net of tax 21 21 41 41
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Adjusted income before extraordinary items for fully
diluted computation 28,146 26,656 51,469 51,644
Extraordinary items (20) 296 34 (1,352)
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Net income for fully diluted computation $ 28,126 $ 26,952 $ 51,503 $ 50,292
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Average number of common and dilutive common
equivalent shares-fully diluted 119,030 116,492 118,586 116,549
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Earnings before extraordinary items $ .24 $ .23 $ .43 $ .44
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Net earnings $ .24 $ .23 $ .43 $ .43
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AVERAGE NUMBER OF COMMON SHARES AND
DILUTIVE COMMON SHARE EQUIVALENTS
Primary shares:
Average number of common shares outstanding 114,841 105,593 114,586 105,070
Incremental shares for options and warrants 3,900 2,563 3,475 3,143
Conversion of pooled company's Convertible
Preferred Stock - 8,050 - 8,050
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118,741 116,206 118,061 116,263
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Fully diluted shares:
Average number of common shares outstanding 114,841 105,593 114,586 105,070
Incremental shares for options and warrants 3,903 2,563 3,714 3,143
Conversion of pooled company's Convertible
Preferred Stock - 8,050 - 8,050
Conversion equivalent of 9.00% Convertible
Subordinated Debentures 286 286 286 286
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119,030 116,492 118,586 116,549
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