<PAGE> 21
Exhibit 11
OIL-DRI CORPORATION OF AMERICA AND SUBSIDIARIES
Computation of Earnings Per Share
(in thousands except for per share amounts)
<TABLE>
<CAPTION>
-----------------------------------
(in thousands, except per share
amounts)
-----------------------------------
Three Months Nine Months
Ended April 30 Ended April 30
----------------- ----------------
2000 1999 2000 1999
----------------- ----------------
<S> <C> <C> <C> <C>
Net income available to
Stockholders (numerator)
$ 934 $1,195 $2,753 $5,499
====== ====== ====== ======
Shares Calculation
(denominator):
Average shares outstanding -
basic 5,610 5,813 5,660 5,846
Effect of Dilutive
Securities:
Potential Common Stock
relating to stock options 1 223 76 149
----- ----- ----- -----
Average shares outstanding -
assuming dilution 5,611 6,036 5,736 5,995
===== ===== ===== =====
Earnings per share-basic $0.17 $0.21 $0.49 $0.94
===== ===== ===== =====
Earnings per share-
assuming dilution $0.17 $0.20 $0.48 $0.92
===== ===== ===== =====
</TABLE>