Speedway Motorsports Inc – ‘10-K’ for 12/31/96 – EX-11

As of:  Wednesday, 3/26/97   ·   For:  12/31/96   ·   Accession #:  950168-97-692   ·   File #:  1-13582

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Annual Report   —   Form 10-K
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-K        Speedway 10-K                                         54    327K 
 2: EX-11       Exhibit 11.1                                           1      7K 
 3: EX-27       Exhibit 27.1                                           1      8K 

EX-11   —   Exhibit 11.1

EX-11
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Exhibit 11.1 Statement re Computation of Per Share Earnings                     
    The computation of primary per share earnings is clearly determinable from
the information provided in the Company's Consolidated Financial Statements and 
notes thereto, and includes common share equivalents which arise from stock     
options. The following sets forth additional information for computation of     
fully diluted per share earnings for the year ended December 31, 1996. Exhibit  
disclosure of fully diluted per share earnings is not required for the years    
ended December 31, 1994 or 1995 as there were no other potentially dilutive     
securities or other financial instruments issued or outstanding during those    
periods.                                                                        

                                                        [Enlarge/Download Table]
                                                                                                   
Net income for year ended December 31, 1996 as reported................................ $26,405,000
Adjustment for potential dilution, net of income taxes:                                            
   -- Interest expense on 5 3/4% convertible subordinated debentures issued in                     
      October 1996, net of amounts capitalized in construction in progress.............     195,000
Net income as adjusted................................................................. $26,600,000
Weighted average shares outstanding before consideration of potential dilutive                     
  effect of 5 3/4% convertible subordinated debentures.................................  41,301,000
Adjustment assuming conversion at time of offering in October 1996.....................     595,000
Weighted average shares outstanding assuming full dilution.............................  41,896,000
Earnings per share assuming full dilution..............................................        $.64

(b) Reports on Form 8-K                                                         
The Company filed a report on Form 8-K (the "Initial Form 8-K Report")
during the fourth quarter of 1996, dated November 18,1996, related to the       
business combination of Speedway Motorsports, Inc. and Sears Point Raceway. The 
Company filed a report on Form 8-K/A dated February 3, 1997 containing the      
required audited financial statements and unaudited pro forma financial         
information referenced previously in the Initial Form 8-K Report.               

Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘10-K’ Filing		Date		Other Filings
Filed on:		3/26/97
		2/3/97		8-K/A
For Period End:		12/31/96
		12/31/94
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