EX-11 6 q063ex11.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
      March 31, 2006 March 31, 2005
(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 $ 2,030  $ 3,996  $ 6,026  $ 2,176  $ 3,954  $ 6,130 
  Undistributed Earnings (Loss) 209 400   609   (1,078) (1,955) (3,033)
 
  Income from Continuing Operations $ 2,239  $ 4,396  $ 6,635  $ 1,098  $ 1,999  $ 3,097 
  Average Basic Shares Outstanding 13,111  25,098  38,209  13,562  24,590  38,152 
  Basic Earnings Per Share from Continuing
      Operations		 $0.17  $0.18    $0.08  $0.08   
Diluted Earnings Per Share from Continuing Operations:
  Dividends Declared and Assumed
       Dividends on Dilutive Shares		 $ 2,052  $ 3,998  $ 6,050  $ 2,176  $ 3,961  $ 6,137 
  Undistributed Earnings (Loss) 203 382 585  (1,096)  (1,944) (3,040)
 
  Income from Continuing Operations $ 2,255  $ 4,380  $ 6,635  $ 1,080  $ 2,017  $ 3,097 
  Average Diluted Shares Outstanding 13,310  25,130  38,440  13,956  24,765  38,721 
  Diluted Earnings Per Share from
       Continuing Operations		 $0.17  $0.17    $0.08  $0.08   
Reconciliation of Basic and Diluted EPS from Continuing Operations Calculations:            
  Income from Continuing Operations
      Used for Basic EPS Calculation		 $ 2,239  $ 4,396 

$ 6,635 

  $ 1,098  $ 1,999 

$ 3,097 

  Assumed Dividends Payable on Dilutive Shares:
    Stock options --  --  --  --  --  -- 
    Performance share awards 22  2  24  --  7  7 
  (Reduction) Increase of Undistributed
     Earnings - allocated based on Class A
     and Class B shares		 (6) (18) (24)   (18) 11 (7)
  Income from Continuing Operations
      Used for Diluted EPS Calculation

$ 2,255 

$ 4,380 

 $ 6,635    $ 1,080  $ 2,017  $ 3,097 
  Average Shares Outstanding for Basic
      EPS Calculation		 13,111  25,098  38,209   13,562 24,590  38,152 
  Dilutive Effect of Average Outstanding:
    Stock options --   --  --  --  --  -- 
    Performance share awards 138   11  149  --  49  49 
    Restricted share units 61   21   82   394  126  520 
  Average Shares Outstanding for Diluted
      EPS Calculation		 13,310  25,130  38,440    13,956  24,765  38,721

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 1,860,000 average stock options outstanding were antidilutive and were excluded from the dilutive calculation. For the prior year period, all 2,395,000 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       Nine Months Ended Nine Months Ended
      March 31, 2006 March 31, 2005
(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 $  6,209  $  11,954  $18,163  $ 6,460  $ 11,838  $18,298 
  Undistributed Loss (2,286) (4,272) (6,558) (617) (1,114) (1,731)
 
  Income from Continuing Operations $  3,923  $  7,682  $  11,605  $ 5,843  $ 10,724  $16,567 
  Average Basic Shares Outstanding 13,315  24,877  38,192  13,591  24,546  38,137 
  Basic Earnings Per Share from Continuing
      Operations		 $0.29  $0.31    $0.43  $0.44   
Diluted Earnings Per Share from Continuing Operations:
  Dividends Declared and Assumed
       Dividends on Dilutive Shares		 $  6,266  $  11,959  $18,225  $ 6,460  $ 11,867  $18,327 
  Undistributed Loss (2,322) (4,298) (6,620) (633) (1,127) (1,760)
 
  Income from Continuing Operations $  3,944 $  7,661  $  11,605  $ 5,827  $ 10,740  $16,567 
  Average Diluted Shares Outstanding 13,443  24,889  38,332  13,871  24,715  38,586 
  Diluted Earnings Per Share from
       Continuing Operations		 $0.29  $0.31    $0.42  $0.43   
Reconciliation of Basic and Diluted EPS from Continuing Operations Calculations:            
  Income from Continuing Operations
      Used for Basic EPS Calculation		 $  3,923  $ 7,682 

$ 11,605 

  $ 5,843  $ 10,724 

$16,567 

  Assumed Dividends Payable on Dilutive Shares:
    Stock options --  --  --  --  --  -- 
    Performance share awards 57  5  62  --  29  29 
    Reduction of Undistributed
     Earnings - allocated based on Class A
     and Class B shares		 (36) (26) (62)   (16) (13) (29)
  Income from Continuing Operations
      Used for Diluted EPS Calculation

$  3,944 

$ 7,661 

 $  11,605    $ 5,827  $ 10,740  $16,567 
  Average Shares Outstanding for Basic
      EPS Calculation		 13,315  24,877  38,192    13,591 24,546  38,137 
  Dilutive Effect of Average Outstanding:
    Stock options --   --  --  --  --  -- 
    Performance share awards 124   10  134  --  61  61 
    Restricted share units 4   2   6   280  108  388 
  Average Shares Outstanding for Diluted
      EPS Calculation		 13,443  24,889  38,332    13,871  24,715  38,586 

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 2,001,000 average stock options outstanding were antidilutive and were excluded from the dilutive calculation. For the prior year period, all 2,464,000 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
  March 31, 2006   March 31, 2005
 
 
  Basic:      
     Class A $0.02    $(0.05) 
     Class B $0.01    $(0.05) 
  Diluted:      
     Class A $0.02    $(0.05) 
     Class B $0.02    $(0.04) 
       
EARNINGS (LOSS) PER SHARE (Unaudited)   (Unaudited)
FROM DISCONTINUED OPERATIONS Nine Months Ended   Nine Months Ended
  March 31, 2006   March 31, 2005
 
 
  Basic:      
     Class A $(0.18)    $(0.11) 
     Class B $(0.19)    $(0.11) 
  Diluted:      
     Class A $(0.18)    $(0.11) 
     Class B $(0.19)    $(0.10) 

 

EARNINGS PER SHARE (Unaudited)   (Unaudited)
FROM CUMULATIVE EFFECT OF CHANGE Three Months Ended   Three Months Ended
IN ACCOUNTING PRINCIPLE March 31, 2006   March 31, 2005
 
 
  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 Nine Months Ended   Nine Months Ended
IN ACCOUNTING PRINCIPLE March 31, 2006   March 31, 2005
 
 
  Basic:p; 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 PER SHARE   (Unaudited) (Unaudited)
(INCLUDING DISCONTINUED OPERATIONS Three Months Ended Three Months Ended
AND CUMULATIVE EFFECT OF CHANGE IN March 31, 2006 March 31, 2005
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 $ 2,030  $ 3,996  $ 6,026  $ 2,176  $ 3,954  $ 6,130 
  Undistributed Earnings (Loss) 433   830   1,263   (1,710) (3,101) (4,811)
 
  Net Income $ 2,463  $ 4,826  $ 7,289  $   466  $   853  $ 1,319 
  Average Basic Shares Outstanding

13,111

 25,098  38,209  13,562  24,590  38,152 
  Basic Earnings Per Share $0.19  $0.19   $0.03  $0.03 
Diluted Earnings Per Share:
  Dividends Declared and Assumed
       Dividends on Dilutive Shares		 $ 2,052  $ 3,998  $ 6,050  $ 2,176  $ 3,961  $ 6,137 
  Undistributed Earnings (Loss) 429 810  1,239 (1,737) (3,081) (4,818)
 
  Net Income $ 2,481  $ 4,808  $ 7,289  $   439  $   880   $ 1,319 
             
  Average Diluted Shares Outstanding 13,310  25,130  38,440  13,956  24,765  38,721 
             
  Diluted Earnings Per Share $0.19   $0.19    $0.03  $0.04   
               
               
EARNINGS PER SHARE (Unaudited) (Unaudited)
(INCLUDING DISCONTINUED OPERATIONS Nine Months Ended Nine Months Ended
AND CUMULATIVE EFFECT OF CHANGE IN March 31, 2006 March 31, 2005
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 $ 6,209  $ 11,954  $18,163  $ 6,460  $11,838  $18,298 
  Undistributed Earnings (Loss) (4,603) (8,600) (13,203) (2,084) (3,764) (5,848)
 
  Net Income $   1,606 $ 3,354 $ 4,960 $ 4,376  $ 8,074  $12,450 
  Average Basic Shares Outstanding 13,315  24,877  38,192  13,591  24,546  38,137 
  Basic Earnings Per Share $0.12  $0.13  $0.32  $0.33 
Diluted Earnings Per Share:
  Dividends Declared and Assumed
       Dividends on Dilutive Shares		 $ 6,266  $ 11,959  $ 18,225  $ 6,460  $11,867  $18,327 
  Undistributed Earnings (Loss) (4,652) (8,613) (13,265) (2,113) (3,764) (5,877)
 
  Net Income $  1,614 $ 3,346 $ 4,960 $ 4,347  $ 8,103   $12,450 
             
  Average Diluted Shares Outstanding 13,443  24,889  38,332  13,871  24,715  38,586 
             
  Diluted Earnings Per Share $0.12   $0.13     $0.31  $0.33