<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
(Restated) (Restated)
----------------- ----------------
<S> <C> <C> <C> <C>
Net income available to Stockholders
(numerator) $ 560 $1,195 $1,440 $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 $ 0.10 $ 0.21 $ 0.25 $ 0.94
====== ====== ====== ======
Earnings per share-
assuming dilution $ 0.10 $ 0.20 $ 0.25 $ 0.92
====== ====== ====== ======
</TABLE>