Raymond James Financial Inc – ‘10-K’ for 9/27/96 – EX-11

As of:  Monday, 12/23/96   ·   For:  9/27/96   ·   Accession #:  1016843-96-139   ·   File #:  1-09109

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Annual Report   —   Form 10-K
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-K        Annual Report                                         45    207K 
 2: EX-3.1      Articles of Incorporation/Organization or By-Laws     36     77K 
 3: EX-10.3     Material Contract                                     13     34K 
 4: EX-10.4     Material Contract                                      2     17K 
 5: EX-10.5     Material Contract                                     13     52K 
 6: EX-11       Statement re: Computation of Earnings Per Share        1      7K 
 7: EX-21       Subsidiaries of the Registrant                         2±     9K 
 8: EX-23       Consent of Experts or Counsel                          1      6K 
 9: EX-27       Financial Data Schedule (Pre-XBRL)                     1      7K 

EX-11   —   Statement re: Computation of Earnings Per Share

                                                                      EXHIBIT 11

 RAYMOND JAMES FINANCIAL, INC.
 COMPUTATION OF EARNINGS PER SHARE
(in thousands, except per share amounts)

                              YEAR ENDED
                               -------------------------------------------
                               SEPTEMBER 27,  SEPTEMBER 29,  SEPTEMBER 30,
                                1996           1995           1994
                               -------------  -------------  -------------

Net income applicable to common                                                 
stock and other dilutive                                                      
securities                           $65,978        $46,141        $42,069    
                                 =======        =======        =======

Average number of common                                                        
shares and equivalents                                                        
outstanding during the                                                        
period (1)                            20,791         20,520         21,038    

Additional shares assuming                                                      
exercise of stock options                                                     
and warrants (1)(2)                      234            185            321    
                                 -------        -------         ------

Average number of common                                                        
shares used to calculate                                                      
earnings per share (1)                21,025         20,705         21,359    
                                 =======        =======        =======

Income per share                      $  3.14        $  2.23        $  1.97     
                                 =======        =======        =======

(1)   Restated to give retroactive effect to all common stock dividends.        

(2)   Represents the number of shares of common stock issuable on the exercise  
  of dilutive employee stock options less the number of shares of common
     stock which could have been purchased with the proceeds from the exercise
  of such options. These purchases were assumed to have been made at the
    average market price of the common stock during the period, or that part
of the period for which the option was outstanding.                 

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