Exhibit 11.1(a)
Renal Treatment Centers, Inc. and Subsidiaries
COMPUTATION OF FULLY DILUTED EARNINGS PER SHARE
for the three and six months ended June 30, 1997 and 1996
Three Months Ended Six Months Ended
June 30, June 30,
1997 1996 1997 1996
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Net income $ 6,746,051 $ 5,430,726 $12,765,449 $ 8,803,014
Add back interest on note, tax effected 34,122 62,708 34,122 130,373
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Net income available to common stockholders $ 6,780,173 $ 5,493,434 $12,799,571 $ 8,933,387
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Weighted average number of shares outstanding 24,962,389 25,828,734 24,737,326 25,284,349
Weighted average number of maximum shares
subject to exercise under outstanding
stock options 2,175,818 1,349,743 1,948,920 1,349,743
Weighted average shares assumed issued upon
conversion of note 54,771 661,501 246,914 661,501
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27,192,978 27,839,978 26,933,160 27,295,593
Less treasury shares assumed purchased with
proceeds from assumed exercise of
outstanding common stock options 1,348,208 583,641 1,143,340 583,641
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Weighted average number of common and
common stock equivalents outstanding 25,844,770 27,256,337 25,789,820 26,711,952
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Net income per common and common stock
equivalent $0.26 $0.20 $0.50 $0.33
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Exhibit 11.1(b)
Renal Treatment Centers, Inc. and Subsidiaries
COMPUTATION OF PRIMARY EARNINGS PER SHARE
for the three and six months ended June 30, 1997 and 1996
Three Months Ended Six Months Ended
June 30, June 30,
1997 1996 1997 1996
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Net income $ 6,746,051 $ 5,430,726 $12,765,449 $ 8,803,014
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Weighted average number of shares outstanding 24,962,389 25,828,734 24,737,326 25,284,349
Weighted average number of maximum shares subject
to exercise under outstanding stock options 2,175,818 1,789,894 1,948,714 1,789,894
Less treasury shares assumed purchased with
proceeds from assumed exercise of outstanding
common stock options 1,423,420 878,159 1,195,206 863,088
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Weighted average number of common and common
stock equivalents outstanding 25,714,787 26,740,469 25,490,834 26,211,155
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Net income per common and common stock equivalent $0.26 $0.20 $0.50 $ 0.34
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