EXHIBIT 11
UGLY DUCKLING CORPORATION
SCHEDULE OF COMPUTATION OF EARNINGS PER COMMON SHARE
(in thousands, except per share amounts)
Three Months ended March 31,
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1997 1996
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Fully Fully
Primary Diluted Primary Diluted
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Net earnings $ 3,262 3,262 1,065 1,065
Preferred dividends -- -- (300) (300)
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Net earnings available to common
shares $ 3,262 3,262 765 765
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Earnings per common share $ 0.20 0.20 0.13 0.13
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Weighted average common shares outstanding 15,904 15,904 5,522 5,522
Common equivalent shares outstanding
using the treasury stock method 675 675 370 370
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Weighted average common and common
equivalent shares outstanding 16,579 16,579 5,892 5,892
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