EX-11 5 q092ex11.htm KIMBALL INTERNATIONAL, INC. EXHIBIT 11 Exhibit 11

Exhibit 11

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

EARNINGS PER SHARE FROM CONTINUING OPERATIONS
  (Unaudited)
Three Months Ended
December 31, 2008		   (Unaudited)
Three Months Ended
December 31, 2007
(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  $  1,748     $  4,208     $  5,956     $  1,867     $  4,059     $  5,926 
    Undistributed Earnings (Loss)  654     1,572     2,226     (535)    (1,151)    (1,686)
    Income from Continuing Operations  $  2,402     $  5,780     $  8,182     $  1,332     $  2,908     $  4,240 
    Average Basic Shares Outstanding  10,883     26,176     37,059     11,720     25,206     36,926 
    Basic Earnings Per Share from
      Continuing Operations		  $    0.22     $    0.22         $    0.11     $    0.12     
Diluted Earnings Per Share from Continuing Operations:                
    Dividends Declared and Assumed                      
      Dividends on Dilutive Shares  $  1,748     $  4,208     $  5,956     $  1,893     $  4,061     $  5,954 
    Undistributed Earnings (Loss)  666     1,560     2,226     (557)    (1,157)    (1,714)
    Income from Continuing Operations  $  2,414     $  5,768     $  8,182     $  1,336     $  2,904     $  4,240 
    Average Diluted Shares Outstanding  11,217     26,273     37,490     12,137     25,295     37,432 
    Diluted Earnings Per Share
      from Continuing Operations		  $    0.22     $    0.22         $    0.11     $    0.11     
Reconciliation of Basic and Diluted EPS from                      
Continuing Operations Calculations:                      
    Income from Continuing Operations                      
      Used for Basic EPS Calculation  $  2,402     $  5,780     $  8,182     $  1,332     $  2,908     $  4,240 
    Assumed Dividends Payable on Dilutive Shares:                    
        Stock options  -0-     -0-     -0-     -0-     -0-     -0- 
        Performance shares  -0-     -0-     -0-     26     2     28 
    Increase (Reduction) of Undistributed                      
      Earnings (Loss) - allocated based on                      
      Class A and Class B shares  12     (12)    -0-     (22)    (6)    (28)
    Income from Continuing Operations
      Used for Diluted EPS Calculation		  $  2,414     $  5,768     $  8,182     $  1,336     $  2,904     $  4,240 
    Average Shares Outstanding for Basic
      EPS Calculation		  10,883     26,176     37,059     11,720     25,206     36,926 
    Dilutive Effect of Average Outstanding:                      
        Stock options  -0-     -0-     -0-     -0-     -0-     -0- 
        Performance shares  -0-     -0-     -0-     165     14     179 
        Restricted share units  334     97     431     252     75     327 
    Average Shares Outstanding for Diluted
      EPS Calculation		  11,217     26,273     37,490     12,137     25,295     37,432 
                     
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.
All of the 749,000 and 785,000 average outstanding stock options were antidilutive and were excluded from the dilutive calculations for the quarters ended December 31, 2008 and 2007, respectively.  In addition, 127,000 performance shares were antidilutive and were excluded from the dilutive calculation for the quarter ended December 31, 2008.


EARNINGS PER SHARE FROM CONTINUING OPERATIONS                
  (Unaudited)
Six Months Ended
December 31, 2008		   (Unaudited)
Six Months Ended
December 31, 2007
(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  $  3,627     $  8,280     $11,907     $  3,747     $  8,112     $11,859 
    Undistributed Loss  (470)    (1,071)    (1,541)    (332)    (725)    (1,057)
    Income from Continuing Operations  $  3,157     $  7,209     $10,366     $  3,415     $  7,387     $10,802 
    Average Basic Shares Outstanding  11,298     25,738     37,036     11,710     25,569     37,279 
    Basic Earnings Per Share from
      Continuing Operations		  $    0.28     $    0.28         $    0.29     $    0.29     
Diluted Earnings Per Share from Continuing Operations:                    
    Dividends Declared and Assumed                      
      Dividends on Dilutive Shares  $  3,647     $  8,281     $11,928     $  3,804     $  8,116     $11,920 
    Undistributed Loss  (486)    (1,076)    (1,562)    (360)    (758)    (1,118)
    Income from Continuing Operations  $  3,161     $  7,205     $10,366     $  3,444     $  7,358     $10,802 
    Average Diluted Shares Outstanding  11,685     25,834     37,519     12,130     25,656     37,786 
    Diluted Earnings Per Share
      from Continuing Operations		  $    0.27     $    0.28         $    0.28     $    0.29     
Reconciliation of Basic and Diluted EPS from                      
Continuing Operations Calculations:                      
    Income from Continuing Operations                      
      Used for Basic EPS Calculation  $  3,157     $  7,209     $10,366     $  3,415     $  7,387     $10,802 
    Assumed Dividends Payable on Dilutive Shares:                    
        Stock options  -0-     -0-     -0-     -0-     -0-     -0- 
        Performance shares  20     1     21     57     4     61 
    Reduction of Undistributed                      
      Loss - allocated based on                      
      Class A and Class B shares  (16)    (5)    (21)    (28)    (33)    (61)
    Income from Continuing Operations
      Used for Diluted EPS Calculation		  $  3,161     $  7,205     $10,366     $  3,444     $  7,358     $10,802 
    Average Shares Outstanding for Basic
      EPS Calculation		  11,298     25,738     37,036     11,710     25,569     37,279 
    Dilutive Effect of Average Outstanding:                      
        Stock options  -0-     -0-     -0-     -0-     -0-     -0- 
        Performance shares  62     3     65     180     15     195 
        Restricted share units  325     93     418     240     72     312 
    Average Shares Outstanding for Diluted
      EPS Calculation		  11,685     25,834     37,519     12,130     25,656     37,786 
                     
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.
All of the 759,000 and 799,000 average outstanding stock options were antidilutive and were excluded from the dilutive calculations for the six months ended December 31, 2008 and 2007, respectively.

 

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

LOSS PER SHARE FROM DISCONTINUED OPERATIONS
(Unaudited)   (Unaudited)
Three Months Ended   Three Months Ended
December 31, 2008   December 31, 2007
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 
     
     
(Unaudited)   (Unaudited)
Six Months Ended   Six Months Ended
December 31, 2008   December 31, 2007
Basic:      
    Class A  $                    0.00     $              0.00 
    Class B  $                    0.00     $              0.00 
Diluted:      
    Class A  $                    0.00     $              0.00 
    Class B  $                    0.00     $            (0.01)


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

EARNINGS PER SHARE (INCLUDING DISCONTINUED OPERATIONS)
  (Unaudited)
Three Months Ended
December 31, 2008		   (Unaudited)
Three Months Ended
December 31 2007
(Amounts in Thousands, Except for Per Share Data) Class A   Class B   Total   Class A   Class B   Total
Basic Earnings Per Share:                      
    Dividends Declared  $  1,748     $  4,208     $  5,956     $  1,867     $  4,059     $  5,926 
    Undistributed Earnings (Loss)  654     1,572     2,226     (535)    (1,151)    (1,686)
    Net Income  $  2,402     $  5,780     $  8,182     $  1,332     $  2,908     $  4,240 
    Average Basic Shares Outstanding  10,883     26,176     37,059     11,720     25,206     36,926 
    Basic Earnings Per Share  $    0.22     $    0.22         $    0.11     $    0.12     
Diluted Earnings Per Share:                      
    Dividends Declared and Assumed                      
    Dividends on Dilutive Shares  $  1,748     $  4,208     $  5,956     $  1,893     $  4,061     $  5,954 
    Undistributed Earnings (Loss)  666     1,560     2,226     (557)    (1,157)    (1,714)
    Net Income  $  2,414     $  5,768     $  8,182     $  1,336     $  2,904     $  4,240 
    Average Diluted Shares Outstanding  11,217     26,273     37,490     12,137     25,295     37,432 
    Diluted Earnings Per Share  $    0.22     $    0.22         $    0.11     $    0.11     
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.
All of the 749,000 and 785,000 average outstanding stock options were antidilutive and were excluded from the dilutive calculations for the quarters ended December 31, 2008 and 2007, respectively.  In addition, 127,000 performance shares were antidilutive and were excluded from the dilutive calculation for the quarter ended December 31, 2008.
                     
(Unaudited)
Six Months Ended
December 31, 2008		   (Unaudited)
Six Months Ended
December 31, 2007
 
 
(Amounts in Thousands, Except for Per Share Data) Class A   Class B   Total   Class A   Class B   Total
Basic Earnings Per Share:                      
    Dividends Declared  $  3,627     $  8,280     $11,907     $  3,747     $  8,112     $11,859 
    Undistributed Loss  (470)    (1,071)    (1,541)    (371)    (810)    (1,181)
    Net Income  $  3,157     $  7,209     $10,366     $  3,376     $  7,302     $10,678 
    Average Basic Shares Outstanding  11,298     25,738     37,036     11,710     25,569     37,279 
    Basic Earnings Per Share  $    0.28     $    0.28         $    0.29     $    0.29     
Diluted Earnings Per Share:                      
    Dividends Declared and Assumed                      
    Dividends on Dilutive Shares  $  3,647     $  8,281     $11,928     $  3,804     $  8,116     $11,920 
    Undistributed Loss  (486)    (1,076)    (1,562)    (400)    (842)    (1,242)
    Net Income  $  3,161     $  7,205     $10,366     $  3,404     $  7,274     $10,678 
    Average Diluted Shares Outstanding  11,685     25,834     37,519     12,130     25,656     37,786 
    Diluted Earnings Per Share  $    0.27     $    0.28         $    0.28     $    0.28     
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.
All of the 759,000 and 799,000 average outstanding stock options were antidilutive and were excluded from the dilutive calculations for the six months ended December 31, 2008 and 2007, respectively.