EXHIBIT 11
IVAX CORPORATION AND SUBSIDIARIES
COMPUTATION OF EARNINGS (LOSS) PER SHARE
(In thousands, except per share data)
PERIOD ENDED JUNE 30, THREE MONTHS SIX MONTHS
1996 1995 1996 1995
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PRIMARY EARNINGS (LOSS) PER COMMON SHARE:
Income (loss) before extraordinary items $ (13,931) $ 28,125 $ 21,965 $ 51,428
Extraordinary items, net of tax (2,072) (20) (2,073) 34
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Net income (loss) for primary computation $ (16,003) $ 28,105 $ 19,892 $ 51,462
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Average number of common and dilutive
common equivalent shares-primary 121,015 118,741 121,858 118,061
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Earnings (loss) before extraordinary items $ (.11) $ .24 $ .18 $ .44
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Net earnings (loss) $ (.13) $ .24 $ .16 $ .44
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FULLY DILUTED EARNINGS (LOSS) PER COMMON SHARE:
Income (loss) before extraordinary items $ (13,931) $ 28,125 $ 21,965 $ 51,428
Adjustment for interest expense on 9.00%
Convertible Subordinated Debentures,
net of tax - 21 - 41
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Adjusted income (loss) before extraordinary
items for fully diluted calculation (13,931) 28,146 21,965 51,469
Extraordinary items, net of tax (2,072) (20) (2,073) 34
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Net income (loss) for fully diluted computation $ (16,003) $ 28,126 $ 19,892 $ 51,503
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Average number of common and dilutive
common equivalent shares-fully diluted 121,015 119,030 121,882 118,586
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Earnings (loss) before extraordinary items $ (.11) $ .24 $ .18 $ .43
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Net earnings (loss) $ (.13) $ .24 $ .16 $ .43
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AVERAGE NUMBER OF COMMON SHARES AND
DILUTIVE COMMON SHARES EQUIVALENTS
Primary shares:
Average number of common shares outstanding 121,015 114,841 120,423 114,586
Incremental shares for options and warrants - 3,900 1,435 3,475
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121,015 118,741 121,858 118,061
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Fully diluted shares:
Average number of common shares outstanding 121,015 114,841 120,423 114,586
Incremental shares for options and warrants - 3,903 1,459 3,714
Conversion equivalent of 9.00% Convertible
Subordinated Debentures - 286 - 286
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121,015 119,030 121,882 118,586
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