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<PAGE> 1
EXHIBIT 11 - Statement re computation of per share earnings
SUIZA FOODS CORPORATION
(In thousands, except share and per-share amounts)
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Three Months ended Six Months ended
June 30, June 30,
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2000 1999 2000 1999
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<S> <C> <C> <C> <C>
Basic EPS computation:
Numerator:
Income before extraordinary items $ 33,533 $ 32,147 $ 54,127 $ 53,020
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Income applicable to common stock $ 33,533 $ 32,147 $ 54,127 $ 53,020
=========== =========== =========== ===========
DENOMINATOR:
AVERAGE COMMON SHARES 28,896,573 33,730,348 28,984,020 33,686,492
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Basic EPS before extraordinary items $ 1.16 $ 0.95 $ 1.87 $ 1.57
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Diluted EPS calculation:
Numerator:
Income before extraordinary items $ 33,533 $ 32,147 $ 54,127 $ 53,020
Net effect on earnings from conversion of mandatorily
redeemable convertible preferred securities 5,331 5,981 10,671 11,962
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INCOME APPLICABLE TO COMMON STOCK $ 38,864 $ 38,128 $ 64,798 $ 64,982
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Denominator:
Average common shares - basic 28,896,573 33,730,348 28,984,020 33,686,492
Stock option conversion 758,345 979,300 787,323 1,062,954
Dilutive effect of conversion of mandatorily
redeemable convertible preferred securities 7,667,534 9,096,105 7,698,931 9,096,132
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Average common shares - diluted 37,322,452 43,805,753 37,470,274 43,845,578
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Diluted EPS before extraordinary items $ 1.04 $ 0.87 $ 1.73 $ 1.48
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