EXHIBIT 11
Mycogen Corporation
Exhibit 11
Statements re Computation of Per Share Earnings
(Amounts in thousands, except per share data)
Three months ended May 31, Nine months ended May 31,
1997 1996 1997 1996
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Net income (loss) applicable to common shares.......... $ 564 $ 3,521 $ (6,981) $ (28,819)
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Weighted average number of shares outstanding:
Average common shares.................................. 30,943 30,575 30,827 24,816
Stock option equivalent shares......................... 2,287 1,759 --(1) --(1)
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Average common shares for computation of primary net
income (loss) per common share........................ 33,230(2) 32,334 30,827 24,816
Additional stock option equivalent shares.............. 130 81 --(1) --(1)
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Average shares for computation of net income (loss)
per common share assuming full dilution............... 33,360(2) 32,415 30,827 24,816
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Net income (loss) per common share:
Primary............................................... $ .02 $ .11 $ (.23) $ (1.16)
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Assuming full dilution............................... $ .02 $ .11 $ (.23) $ (1.16)
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(1) Additional shares from stock option equivalents were not included in the
calculation of net income (loss) per common share where the effect was
antidilutive.
(2) This calculation is submitted in accordance with Securities Exchange Act of
1934 Release No. 9083 although not required by footnote 2 to paragraph 14 of APB
Opinion No. 15 because it results in dilution of less than 3%.