EXHIBIT 11
BUILDING MATERIALS HOLDING CORPORATION
Computation of Earnings Per Share
COMPUTATION OF PRIMARY EARNINGS PER SHARE
Three Months Ended Nine Months Ended
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September 30, September 30, September 30, September 30,
1997 1996 1997 1996
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Net income $4,212,000 $4,560,000 $8,128,000 $8,840,000
Class B preferred stock accretion -- (8,500) (6,500) (25,500)
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Adjusted net income $4,212,000 $4,551,500 $8,121,500 $8,814,500
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Weighted average shares outstanding 11,833,728 11,807,613 11,830,365 10,401,785
Net effect of dilutive stock options based on the
treasury stock method using average market price 218,188 236,521 216,131 247,912
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Total common shares and equivalents 12,051,916 12,044,134 12,046,496 10,649,697
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PRIMARY INCOME PER SHARE $ .35 $ .38 $ .67 $ .83
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COMPUTATION OF FULLY DILUTED EARNINGS PER SHARE
Adjusted net income $4,212,000 $4,551,500 $8,121,500 $8,814,500
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Weighted average shares outstanding 11,833,728 11,807,613 11,830,365 10,401,785
Net effect of dilutive stock options based on the
treasury stock method using the higher of
quarter-end market price or average market price 225,840 236,521 224,924 247,912
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Total common shares and equivalents 12,059,568 12,044,134 12,055,289 10,649,697
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FULLY DILUTED EARNINGS PER SHARE $ .35 $ .38 $ .67 $ .83
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