EX-2
from 10-Q
1 page
Exhibit 11.1 Statement Re: Computation of Historical Earnings Per Common Share Proffitt's, Inc. and Subsidiaries (In Thousands, Except Per Share Amounts) Three Months Ended April 29, April 30, 1995 1994 Primary: Average Shares Outstanding 10,076 9,446 Net Effect of Dilutive Stock Options - Based on the Treasury Stock Method Using Average Market Price 85 149 Total 10,161 9,595 ========= ======= Net Income $ 2,802 $ 400 Less Preferred Stock Dividends (488) (181) Net Income Available to Common Shareholders $ 2,314 $ 219 ========= ======= Primary Earnings Per Common Share $ 0.23 $ 0.02 ========= ======= <page> Exhibit 11.1 (Continued) Statement Re: Computation of Historical Earnings Per Common Share Proffitt's, Inc. and Subsidiaries (In Thousands, Except Per Share Amounts) Three Months Ended April 29, April 30, 1995 1994 Fully Diluted: Average Shares Outstanding 10,076 9,446 Net Effect of Dilutive Stock Options - Based on the Treasury Stock Method Using Period-End Market Price if Higher Than Average Price 90 149 Assumed Conversion of 4.75% Subordinate Debenture 2,020 2,020 Assumed Conversion of Preferred Stock 1,422 521 Total 13,608 12,136 ========= ======== Income Before Interest Adjustment $ 2,802 $ 400 Add 4.75% Convertible Subordinated Debenture Interest, Net of Federal Income Tax Effect 625 625 Adjusted Net Income $ 3,427 $ 1,025 ========= ======== Fully Diluted Earnings Per Common Share $ 0.25 $ 0.08 ========= ======== Note/for Each Period Shown, the Fully Diluted Earnings Per Common Share Calculation Is Anti-Dilutive, and Therefore, No Fully Diluted Presentation Is Needed
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