EXHIBIT 11
LITHIA MOTORS, INC.
CALCULATIONS OF NET INCOME PER SHARE
Three Months Ended September 30, Nine Months Ended September 30,
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1997 1996 1997 1996
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Primary Fully Primary Fully Primary Fully Primary Fully
Diluted Diluted Diluted Diluted
Weighted Average Shares
Outstanding for the Period
Class A 2,895,550 2,895,550 390,000 390,000 2,863,090 2,863,090 390,000 390,000
Class B 4,110,000 4,110,000 4,110,000 4,110,000 4,110,000 4,110,000 4,110,000 4,110,000
Dilutive Common Stock
Options Using the Treasury
Stock Method 306,208 324,414 - - 307,785 327,077 - -
Shares Added Pursuant
to SAB 83 - - 383,016 383,016 - - 383,016 383,016
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Total Shares Used for Per
Share Calculations 7,311,758 7,329,964 4,883,016 4,883,016 7,280,875 7,300,167 4,883,016 4,883,016
Net Income $1,579,000 $1,579,000 $ 894,000 $ 894,000 $4,090,000 $4,090,000 $2,718,000 $2,718,000
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Net Income Per Share $0.22 $0.22 $0.18 $0.18 $0.56 $0.56 $0.56 $0.56
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