EX-11 3 exh11_10852.txt STATEMENT - COMPUTATION OF PER SHARE EARNINGS EXHIBIT 11 ---------- CHATTEM, INC. AND SUBSIDIARIES ------------------------------ STATEMENT REGARDING COMPUTATION OF PER SHARE EARNINGS ----------------------------------------------------- (UNAUDITED AND IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)
FOR THE THREE MONTHS FOR THE NINE MONTHS ENDED AUGUST 31, ENDED AUGUST 31, ---------------------------- --------------------------- 2001 2000 2001 2000 ------------ ------------ ------------ ------------ NET INCOME: Income before extraordinary gain (loss) and change in accounting principle ......... $ 2,748 $ 5,151 $ 6,743 $ 14,978 Extraordinary gain (loss) ..................... (603) -- 6,948 (110) Change in accounting principle ................ -- -- -- (542) ------------ ------------ ------------ ------------ Net income ............................. $ 2,145 $ 5,151 $ 13,691 $ 14,326 ============ ============ ============ ============ NUMBER OF COMMON SHARES: Weighted average outstanding .................. 8,876 9,310 8,871 9,508 Issued upon assumed exercise of outstanding stock options .............................. 142 69 40 103 Effect of issuance of restricted common shares 13 -- 6 -- ------------ ------------ ------------ ------------ Weighted average and potential dilutive outstanding ................................ 9,031 9,379 8,917 9,611 ============ ============ ============ ============ NET INCOME ( LOSS) PER COMMON SHARE: Basic: Income before extraordinary gain (loss) and change in accounting principle ...... $ .31 $ .55 $ .76 $ 1.58 Extraordinary gain (loss) .................. (.07) -- .78 (.01) Change in accounting principle ............. -- -- -- (.06) ------------ ------------ ------------ ------------ Total basic ............................ $ .24 $ .55 $ 1.54 $ 1.51 ============ ============ ============ ============ Diluted: Income before extraordinary gain (loss) and change in accounting principle ...... $ .30 $ .55 $ .76 $ 1.56 Extraordinary gain (loss) .................. (.06) -- .78 (.01) Change in accounting principle ............. -- -- -- (.06) ------------ ------------ ------------ ------------ Total diluted .......................... $ .24 $ .55 $ 1.54 $ 1.49 ============ ============ ============ ============