UGLY DUCKLING CORPORATION
SCHEDULE OF COMPUTATION OF EARNINGS PER COMMON SHARE
Year Ended December 31,
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1996 1995 1994
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Fully Fully Fully
Primary Diluted Primary Diluted Primary Diluted
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Net earnings (loss) $5,866,000 $5,866,000 $(3,972,000) $(3,972,000) $(1,967,000) $(1,967,000)
Preferred dividends (916,000) (916,000) 0 0 0 0
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Net earnings (loss)available to
common shares $4,950,000 $4,950,000 $(3,972,000) $(3,972,000) $(1,967,000) $(1,967,000)
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Earnings (loss) per common share $ 0.60 $ 0.60(a) $ (0.67) $ (0.67) $ (0.35) $ (0.35)
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Weighted average common shares
outstanding $7,887,000 $7,887,000 $ 5,522,000 $ 5,522,000 $ 5,214,000 $ 5,214,000
Common equivalent shares outstanding
using the treasury stock method 396,000 430,000 370,000 370,000 370,000 370,000
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Weighted average common and common
equivalent shares outstanding $8,283,000 $8,317,000 $ 5,892,000 $ 5,892,000 $ 5,584,000 $ 5,584,000
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(a) This calculation is submitted in accordance with Regulation S-K item
601(b)(11) although not required by footnote 2 to paragraph 14 of APB
Opinion No. 15 because it results in dilution of less than 3%