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EXHIBIT 11
CAMERON ASHLEY BUILDING PRODUCTS, INC.
COMPUTATION OF EARNINGS PER SHARE
(THOUSANDS)
<TABLE>
<CAPTION>
Three Months Ended
------------------------------------------------------------------------------------------
April 30, 2000 April 30, 1999
-------------------------------------------- ------------------------------------------
Loss Shares Per-Share Loss Shares Per-Share
(Numerator) (Denominator) Amount (Numerator) (Denominator) Amount
------------ ------------- ------------ ------------ ------------ ------------
<S> <C> <C> <C> <C> <C> <C>
BASIC EPS
Income available to common
stockholders $ (2,425) 8,712 $ (0.28) $ 3,477 8,654 $ 0.40
============ ============
EFFECT OF DILUTIVE SECURITIES
Average options outstanding 0 1,831
Effects of treasury stock method
(based on exercise proceeds and
tax benefits) 0 (1,684)
------------ ------------ ------------ ------------
DILUTED EPS
Income available to common
stockholders assuming dilution $ (2,425) 8,712 $ (0.28) $ 3,477 8,801 $ 0.40
============ ============ ============ ============ ============ ============
</TABLE>
<TABLE>
<CAPTION>
Six Months Ended
------------------------------------------------------------------------------------------
April 30, 2000 April 30, 1999
-------------------------------------------- ------------------------------------------
Loss Shares Per-Share Income Shares Per-Share
(Numerator) (Denominator) Amount (Numerator) (Denominator) Amount
------------ ------------- ------------ ------------ ------------ ------------
<S> <C> <C> <C> <C> <C> <C>
BASIC EPS
Income available to common
stockholders $ (3,622) 8,704 $ (0.42) $ 3,434 8,650 $ 0.40
============ ============
EFFECT OF DILUTIVE SECURITIES
Average options outstanding 0 1,831
Effects of treasury stock method
(based on exercise proceeds and
tax benefits) 0 (1,679)
------------ ------------ ------------ ------------
DILUTED EPS
Income available to common
stockholders assuming dilution $ (3,622) 8,704 $ (0.42) $ 3,434 8,802 $ 0.39
============ ============ ============ ============ ============ ============
</TABLE>
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