EX-11 5 q062ex11.htm KIMBALL INTERNATIONAL, INC. EXHIBIT 11 Exhibit 11

Exhibit 11

KIMBALL INTERNATIONAL, INC. AND SUBSIDIARIES
COMPUTATION OF EARNINGS PER SHARE

EARNINGS PER SHARE (Unaudited) (Unaudited)
FROM CONTINUING OPERATIONS Three Months Ended Three Months Ended
December 31, 2005 December 31, 2004
  
  
(Amounts in Thousands, Except for per Share Data) Class A Class B Total   Class A Class B Total  
Basic Earnings Per Share from Continuing Operations:
  Dividends Declared $ 2,020  $ 3,983  $ 6,003  $ 2,137  $ 3,949  $ 6,086 
  Undistributed Earnings (Loss) (307) (570) (877) 511  922  1,433 
 
  Income from Continuing Operations $ 1,713  $ 3,413  $ 5,126  $ 2,648  $ 4,871  $ 7,519 
  Average Basic Shares Outstanding 13,352  24,851  38,203  13,584  24,555  38,139 
  Basic Earnings Per Share from Continuing
      Operations		 $0.13  $0.14    $0.19  $0.20   
Diluted Earnings Per Share from Continuing Operations:
  Dividends Declared and Assumed
       Dividends on Dilutive Shares		 $ 2,040  $ 3,985  $ 6,025  $ 2,137  $ 3,959  $ 6,096 
  Undistributed Earnings (Loss) (316) (583) (899) 510  913  1,423 
 
  Income from Continuing Operations $ 1,724  $ 3,402  $ 5,126  $ 2,647  $ 4,872  $ 7,519 
  Average Diluted Shares Outstanding 13,482  24,861  38,343  13,807  24,718  38,525 
  Diluted Earnings Per Share from
       Continuing Operations		 $0.13  $0.14    $0.19  $0.20   
Reconciliation of Basic and Diluted EPS from Continuing Operations Calculations:            
  Income from Continuing Operations
      Used for Basic EPS Calculation		 $ 1,713  $ 3,413 

$ 5,126 

  $ 2,648  $ 4,871 

$ 7,519 

  Assumed Dividends Payable on Dilutive Shares:
    Stock options --  --  --  --  --  -- 
    Performance share awards 20  2  22  --  10  10 
  (Reduction) Increase of Undistributed
     Earnings - allocated based on Class A
     and Class B shares		 (9) (13) (22)   (1) (9) (10)
  Income from Continuing Operations
      Used for Diluted EPS Calculation

$ 1,724 

$ 3,402 

 $ 5,126    $ 2,647  $ 4,872  $ 7,519 
  Average Shares Outstanding for Basic
      EPS Calculation		 13,352  24,851  38,203    13,584 24,555  38,139 
  Dilutive Effect of Average Outstanding:
    Stock options --   --  --  --  --  -- 
    Performance share awards 130   10  140  --  66  66 
    Restricted share units --   --  --  223  97  320 
  Average Shares Outstanding for Diluted
      EPS Calculation		 13,482  24,861  38,343    13,807  24,718  38,525 

Included in dividends declared for the basic and diluted earnings per share computation are dividends computed and accrued on unvested Class A and Class B restricted share units, which will be paid by a conversion to the equivalent value of common shares after a vesting period.

For the current year period, all 1,935,000 average stock options outstanding were antidilutive and were excluded from the dilutive calculation. For the prior year period, all 2,440,000 average stock options outstanding were antidilutive and were excluded from the dilutive calculation.

KIMBALL INTERNATIONAL, INC. AND SUBSIDIARIES
COMPUTATION OF EARNINGS PER SHARE

EARNINGS PER SHARE (Unaudited) (Unaudited)
FROM CONTINUING OPERATIONS Six Months Ended Six Months Ended
December 31, 2005 December 31, 2004
  
  
(Amounts in Thousands, Except for per Share Data) Class A Class B Total   Class A Class B Total  
Basic Earnings Per Share from Continuing Operations:
  Dividends Declared $  4,178  $  7,958  $12,136  $ 4,283  $ 7,885  $12,168 
  Undistributed Earnings (Loss) (2,518) (4,648) (7,166) 465  837  1,302 
 
  Income from Continuing Operations $  1,660  $  3,310  $  4,970  $ 4,748  $ 8,722  $13,470 
  Average Basic Shares Outstanding 13,418  24,766  38,184  13,605  24,524  38,129 
  Basic Earnings Per Share from Continuing
      Operations		 $0.12  $0.13    $0.35  $0.36   
Diluted Earnings Per Share from Continuing Operations:
  Dividends Declared and Assumed
       Dividends on Dilutive Shares		 $  4,214  $  7,961  $12,175  $ 4,283  $ 7,907  $12,190 
  Undistributed Earnings (Loss) (2,546) (4,659) (7,205) 459  821  1,280 
 
  Income from Continuing Operations $  1,668  $  3,302  $  4,970  $ 4,742  $ 8,728  $13,470 
  Average Diluted Shares Outstanding 13,534  24,775  38,309  13,828  24,690  38,518 
  Diluted Earnings Per Share from
       Continuing Operations		 $0.12  $0.13    $0.34  $0.35   
Reconciliation of Basic and Diluted EPS from Continuing Operations Calculations:            
  Income from Continuing Operations
      Used for Basic EPS Calculation		 $  1,660  $  3,310 

$   4,970 

  $ 4,748  $ 8,722 

$13,470 

  Assumed Dividends Payable on Dilutive Shares:
    Stock options --  --  --  --  --  -- 
    Performance share awards 36  3  39  --  22  22 
  (Reduction) Increase of Undistributed
     Earnings - allocated based on Class A
     and Class B shares		 (28) (11) (39)   (6) (16) (22)
  Income from Continuing Operations
      Used for Diluted EPS Calculation

$  1,668 

$  3,302 

 $  4,970    $ 4,742  $ 8,728  $13,470 
  Average Shares Outstanding for Basic
      EPS Calculation		 13,418  24,766  38,184    13,605 24,524  38,129 
  Dilutive Effect of Average Outstanding:
    Stock options --   --  --  --  --  -- 
    Performance share awards 116   9  125  --  68  68 
    Restricted share units --   --  --  223  98  321 
  Average Shares Outstanding for Diluted
      EPS Calculation		 13,534  24,775  38,309    13,828  24,690  38,518 

Included in dividends declared for the basic and diluted earnings per share computation are dividends computed and accrued on unvested Class A and Class B restricted share units, which will be paid by a conversion to the equivalent value of common shares after a vesting period.

For the current year period, all 2,063,000 average stock options outstanding were antidilutive and were excluded from the dilutive calculation. For the prior year period, all 2,498,000 average stock options outstanding were antidilutive and were excluded from the dilutive calculation.

KIMBALL INTERNATIONAL, INC. AND SUBSIDIARIES
COMPUTATION OF EARNINGS PER SHARE
 
  EARNINGS (LOSS) PER SHARE (Unaudited)   (Unaudited)
  FROM DISCONTINUED OPERATIONS Three Months Ended   Three Months Ended
    December 31, 2005   December 31, 2004
   
 
  Basic:      
     Class A $(0.03)    $(0.03) 
     Class B $(0.03)    $(0.04) 
  Diluted:      
     Class A $(0.03)    $(0.03) 
     Class B $(0.03)    $(0.04) 
       
  (Unaudited)   (Unaudited)
  Six Months Ended   Six Months Ended
  December 31, 2005   December 31, 2004
 
 
  Basic:      
     Class A $(0.20)    $(0.06) 
     Class B $(0.20)    $(0.07) 
  Diluted:      
     Class A $(0.20)    $(0.06) 
     Class B $(0.20)    $(0.06) 

 

  EARNINGS PER SHARE (Unaudited)   (Unaudited)
  FROM CUMULATIVE EFFECT OF CHANGE Three Months Ended   Three Months Ended
  IN ACCOUNTING PRINCIPLE December 31, 2005   December 31, 2004
   
 
  Basic:      
     Class A $0.00    $0.00 
     Class B $0.00    $0.00 
  Diluted:      
     Class A $0.00    $0.00 
     Class B $0.00    $0.00 
       
  EARNINGS PER SHARE (Unaudited)   (Unaudited)
  FROM CUMULATIVE EFFECT OF CHANGE Six Months Ended   Six Months Ended
  IN ACCOUNTING PRINCIPLE December 31, 2005   December 31, 2004
   
 
  Basic:      
     Class A $0.01    $0.00 
     Class B $0.01    $0.00 
  Diluted:      
     Class A $0.01    $0.00 
     Class B $0.01    $0.00 


 

KIMBALL INTERNATIONAL, INC. AND SUBSIDIARIES
COMPUTATION OF EARNINGS PER SHARE
 

EARNINGS (LOSS) PER SHARE   (Unaudited)   (Unaudited)
(INCLUDING DISCONTINUED OPERATIONS   Three Months Ended   Three Months Ended
AND CUMULATIVE EFFECT OF CHANGE IN   December 31, 2005   December 31, 2004
ACCOUNTING PRINCIPLE)   
  
(Amounts in Thousands, Except for per Share Data) Class A Class B Total   Class A Class B Total  
Basic Earnings Per Share:
  Dividends Declared $ 2,020  $ 3,983  $ 6,003  $ 2,137  $ 3,949  $ 6,086 
  Undistributed Earnings (Loss) (619) (1,150) (1,769) 11  19  30 
 
  Net Income $ 1,401  $ 2,833  $ 4,234  $ 2,148  $ 3,968  $ 6,116 
  Average Basic Shares Outstanding 13,352  24,851  38,203  13,584  24,555  38,139 
  Basic Earnings (Loss) Per Share $0.10  $0.11   $0.16  $0.16 
Diluted Earnings Per Share:
  Dividends Declared and Assumed
       Dividends on Dilutive Shares		 $ 2,040  $ 3,985  $ 6,025  $ 2,137  $ 3,959  $ 6,096 
  Undistributed Earnings (Loss) (630) (1,161) (1,791) 7  13  20 
 
  Net Income (Loss) $ 1,410  $ 2,824  $ 4,234  $ 2,144  $ 3,972   $ 6,116 
             
  Average Diluted Shares Outstanding 13,482  24,861  38,343  13,807  24,718  38,525 
             
  Diluted Earnings (Loss) Per Share $0.10   $0.11    $0.16  $0.16   
               
EARNINGS (LOSS) PER SHARE   (Unaudited)   (Unaudited)
(INCLUDING DISCONTINUED OPERATIONS   Six Months Ended   Six Months Ended
AND CUMULATIVE EFFECT OF CHANGE IN   December 31, 2005   December 31, 2004
ACCOUNTING PRINCIPLE)   
  
(Amounts in Thousands, Except for per Share Data) Class A Class B Total   Class A Class B Total  
Basic Earnings Per Share:
  Dividends Declared $ 4,178  $ 7,958  $12,136  $ 4,283  $ 7,885  $12,168 
  Undistributed Earnings (Loss) (5,083) (9,382) (14,465) (370) (667) (1,037)
 
  Net Income (Loss) $  (905) $(1,424) $(2,329) $ 3,913  $ 7,218  $11,131 
  Average Basic Shares Outstanding 13,418  24,766  38,184  13,605  24,524  38,129 
  Basic Earnings (Loss) Per Share $(0.07) $(0.06) $0.29  $0.29 
Diluted Earnings Per Share:
  Dividends Declared and Assumed
       Dividends on Dilutive Shares		 $ 4,214  $ 7,961  $12,175  $ 4,283  $ 7,907  $12,190 
  Undistributed Earnings (Loss) (5,124) (9,380) (14,504) (380) (679) (1,059)
 
  Net Income (Loss) $  (910) $(1,419) $(2,329) $ 3,903  $ 7,228   $11,131 
             
  Average Diluted Shares Outstanding 13,534  24,775  38,309  13,828  24,690  38,518 
             
  Diluted Earnings (Loss) Per Share $(0.07) $(0.06)   $0.28  $0.29