Playboy Enterprises International Inc – ‘10-K’ for 6/30/97 – EX-11

As of:  Wednesday, 9/24/97   ·   For:  6/30/97   ·   Accession #:  950131-97-5816   ·   File #:  1-06813

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Annual Report   —   Form 10-K
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-K        Annual Report                                         40    246K 
 2: EX-10.1(E)  Form of 162(M) Restricted Stock Agreement             10     43K 
 4: EX-10.18(F)  Amendment to Product License Agreements               2     12K 
 5: EX-10.19(D)  3rd Amendment T0 2/10/95 Credit Agreement             3     17K 
 6: EX-10.24(B)  Lease Termination Agreement                           3     20K 
 7: EX-10.25(B)  Amendment to 9/6/96 Lease Dated 6/1/97                3     19K 
 8: EX-10.26(G)  3rd Amendment to Deferred Compensation Plan           3     13K 
 9: EX-10.26(H)  2nd Amendment to Deferred Compensation Plan           1      9K 
10: EX-10.27(R)  Letter Agreement Dated 9/6/96 Re: Perkins             3     14K 
                          Employment                                             
11: EX-10.27(S)  Letter Agreement Dated 9/4/97 Re: Lynn's Waiver       1      8K 
 3: EX-10.4     Playboy Magazine Distribution Agreement               30     75K 
12: EX-11       Computation of Net Income Per Share                    2±     9K 
13: EX-13       Annual Report to Security Holders                     42±   213K 
14: EX-21       Subsidiaries                                           1     10K 
15: EX-23       Consent of Independent Public Accountants              1      8K 
16: EX-27       Financial Data Schedule                                2      8K 

EX-11   —   Computation of Net Income Per Share

EX-11
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PLAYBOY ENTERPRISES, INC. AND SUBSIDIARIES  
EXHIBIT 11  
COMPUTATION OF EARNINGS PER SHARE 
for the years ended June 30 
(In thousands, except per share amounts)  

                                                                [Download Table]


                                           1997        1996        1995     
                                          -------     -------     -------   
                                                                            
Primary:                                                                    
-------                                                                     
 Earnings:                                                                  
  Net income                              $21,394     $ 4,252     $   629   
                                          =======     =======     =======   

 Shares:                                                                    
  Weighted average number of common                                         
   shares outstanding                      20,318      20,014      19,984   
  Assuming exercise of options reduced                                      
   by the number of shares which could                                      
   have been purchased with the proceeds                                    
   from exercise of such options              514         359         218   
                                          -------     -------     -------   

  Weighted average number of common                                         
   shares outstanding as adjusted          20,832      20,373      20,202   
                                          =======     =======     =======   

  Primary earnings per common share:                                        
   Net income                             $  1.03  1  $  0.21  1  $  0.03  1
                                          =======     =======     =======   

Fully Diluted:                                                              
-------------                                                               
 Earnings:                                                                  
  Net income                              $21,394     $ 4,252     $   629   
                                          =======     =======     =======   

 Shares:                                                                    
  Weighted average number of common                                         
   shares outstanding                      20,318      20,014      19,984   
  Assuming exercise of options reduced                                      
   by the number of shares which could                                      
   have been purchased with the proceeds                                    
   from exercise of such options              580         424         268   
                                          -------     -------     -------   

  Weighted average number of common                                         
   shares outstanding as adjusted          20,898      20,438      20,252   
                                          =======     =======     =======   

  Earnings per common shares assuming                                       
   full dilution:                                                           
    Net income                            $  1.02  1  $  0.21  1  $  0.03  1
                                          =======     =======     =======   


1  This calculation is submitted in accordance with Regulation S-K item 601(b)
   (11) although not required by footnote 2 to paragraph 14 of APB Opinion No.
15 because it results in dilution of less than 3%.