Continental Homes Holding Corp – ‘10-K’ for 5/31/94 – EX-11

As of:  Tuesday, 8/23/94   ·   For:  5/31/94   ·   Accession #:  950147-94-91   ·   File #:  1-10700

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Annual Report   —   Form 10-K
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-K        Annual Report                                         17±    87K 
 5: EX-10.10    Promissory Note                                        7±    27K 
 2: EX-10.1B    Third Amendment to Lease                               6±    23K 
 3: EX-10.5C    Second Modification Agreement                          4±    17K 
 4: EX-10.9     Mortgage Warehousing Credit & Security Agreement      37±   148K 
 6: EX-11       Computation of Earnings Per Share                      1      6K 
 7: EX-13       Inside Cover + Pages 9-23 of Annual Report            23±   110K 
 8: EX-21       List of Subsidiaries                                   1      6K 
 9: EX-23       Consent of Independent Public Accountants              1      5K 

EX-11   —   Computation of Earnings Per Share

EXHIBIT 11

CONTINENTAL HOMES HOLDING CORP. 
COMPUTATION OF EARNINGS PER SHARE 
(In thousands, except per share data) 

                                       Years ended May 31,
                                     -------------------------
Fully diluted:                                  1994              1993          
                                     --------          -------
Net income                                    $ 13,083          $ 7,100         
Interest expense on convertible                                                 
subordinated notes net of income                                            
taxes                                          1,604            1,660       
                                     --------          -------
                                     $ 14,687          $ 8,760
                                     ========          =======
Weighted average number of                                                      
shares outstanding                             6,203            5,144       
Conversion of convertible                                                       
subordinated notes (42.55 shares                                            
per $1,000 principal amount of                                              
notes)                                         1,489            1,489       
Incremental shares relating to                                                  
stock options exercisable                        105               99       
                                     --------          -------
Weighted average number of shares                                               
outstanding assuming full dilution             7,797            6,732       
                                     ========          =======

Fully diluted net income per share            $   1.88          $  1.30         
                                     ========          =======