EX-11.1
STATEMENT RE COMPUTATION OF PER SHARE EARNINGS
Tokheim Corporation and Subsidiaries
Exhibit (11) - Earnings Per Share
For the three and six month periods ended May 31, 2000 and 1999.
Basic earnings per share ("EPS") is calculated based on earnings (loss)
available to common shareholders and the weighted average number of common
stock shares outstanding during each period. Diluted EPS includes
additional dilution from potential common stock equivalents such as stock
issued pursuant to the conversion of preferred stock or the exercise of
stock options outstanding.
The following table presents information necessary to calculate EPS
<TABLE>
<CAPTION>
Basic Basic
---------------------------- ------------------------
Three Months Ended Six Months Ended
---------------------------- ------------------------
May 31, May 31, May 31, May 31,
2000 1999 2000 1999
------------ ------------ ---------- ----------
Shares outstanding (in thousands):
<S> <C> <C> <C> <C>
Weighted average outstanding................... 12,669 12,669 12,669 12,666
======== ======== ======== ========
Net earnings (loss):
Before extraordinary item...................... $(17,350) $ (4,998) $(37,856) $(19,174)
Extraordinary loss on debt extinguishment...... -- -- -- (6,249)
-------- -------- -------- --------
Net loss....................................... (17,350) (4,998) (37,856) (25,423)
Preferred stock dividends...................... 381 374 768 747
-------- -------- -------- --------
Loss applicable to common stock................ $(17,731) $ (5,372) $(38,624) $(26,170)
======== ======== ======== ========
Net loss per common share:
Before extraordinary item...................... $ (1.40) $ (0.42) $ (3.05) $ (1.57)
Extraordinary loss on debt extinguishment...... -- -- -- (0.50)
-------- -------- -------- --------
Net loss....................................... $ (1.40) $ (0.42) $ (3.05) $ (2.07)
======== ======== ======== ========
For financial reporting purposes, the loss per share, assuming full
dilution, is considered to be the same as basic since the effect of the
common stock equivalents would be anti-dilutive.
Diluted Diluted
---------------------------- ------------------------
Three Months Ended Six Months Ended
---------------------------- ------------------------
May 31, May 31, May 31, May 31,
2000 1999 2000 1999
------------ ------------ ---------- ----------
Shares outstanding (in thousands):
Weighted average outstanding................... 12,669 12,669 12,669 12,666
Share equivalents.............................. 2,518 259 2,518 205
Weighted conversion of preferred stock......... 786 787 786 787
-------- -------- -------- --------
Adjusted outstanding........................... 15,973 13,715 15,973 13,658
======== ======== ======== ========
Net loss:
Before extraordinary item...................... $(17,350) $ (4,998) $(37,856) $(19,174)
Extraordinary loss on debt extinguishment...... -- -- -- (6,249)
-------- -------- -------- --------
Net loss....................................... (17,350) (4,998) (37,856) (25,423)
Incremental RSP expense........................ 381 374 768 747
-------- -------- -------- --------
Loss applicable to common stock................ $(17,731) $ (5,372) $(38,624) $(26,170)
======== ======== ======== ========
Net loss per common share:
Before extraordinary item...................... $ (1.18) $ (0.39) $ (2.62) $ (1.46)
Extraordinary loss on debt extinguishment...... -- -- -- (0.46)
-------- -------- -------- --------
Net loss....................................... $ (1.18) $ (0.39) $ (2.62) $ (1.92)
======== ======== ======== ========
</TABLE>
