EXHIBIT 11
IVAX CORPORATION AND SUBSIDIARIES
COMPUTATION OF EARNINGS PER SHARE
(In thousands, except per share data)
THREE MONTHS NINE MONTHS
PERIOD ENDED SEPTEMBER 30, 1995 1994 1995 1994
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PRIMARY EARNINGS PER COMMON SHARE:
Income before extraordinary items $ 27,582 $ 26,313 $ 79,010 $ 77,916
Extraordinary items - 92 34 (1,260)
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Net income for primary computation $ 27,582 $ 26,405 $ 79,044 $ 76,656
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Average number of common and dilutive common
equivalent shares-primary 119,312 116,432 118,842 116,273
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Earnings before extraordinary items $ .23 $ .23 $ .67 $ .67
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Net earnings $ .23 $ .23 $ .67 $ .66
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FULLY DILUTED EARNINGS PER COMMON SHARE:
Income before extraordinary items $ 27,582 $ 26,313 $ 79,010 $ 77,916
Adjustment for interest expense on 9.00% Convertible
Subordinated Debentures, net of tax 16 17 57 58
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Adjusted income before extraordinary items for fully
diluted computation 27,598 26,330 79,067 77,974
Extraordinary items - 92 34 (1,260)
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Net income for fully diluted computation $ 27,598 $ 26,422 $ 79,101 $ 76,714
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Average number of common and dilutive common
equivalent shares-fully diluted 120,692 116,777 120,578 116,554
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Earnings before extraordinary items $ .23 $ .23 $ .66 $ .67
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Net earnings $ .23 $ .23 $ .66 $ .66
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AVERAGE NUMBER OF COMMON SHARES AND
DILUTIVE COMMON SHARE EQUIVALENTS
Primary shares:
Average number of common shares outstanding 116,165 105,902 115,468 105,350
Incremental shares for options and warrants 3,147 2,480 3,374 2,873
Conversion of pooled company's Convertible
Preferred Stock - 8,050 - 8,050
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119,312 116,432 118,842 116,273
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Fully diluted shares:
Average number of common shares outstanding 116,165 105,902 115,468 105,350
Incremental shares for options and warrants 4,241 2,539 4,824 2,868
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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120,692 116,777 120,578 116,554
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