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Exhibit 11
Statement of Computation of Per Share Earnings
In the three months ended March 31, 2020 and 2019, FutureFuel computed earnings per share using the treasury method.
The composition of basic and diluted earnings per share were as follows:
(Dollars in thousands, except per share amounts)
Three Months Ended March 31, | ||||||||
2020 | 2019 | |||||||
Numerator: | ||||||||
Net income | $ | 19,043 | $ | 5,499 | ||||
Denominator: | ||||||||
Weighted average shares outstanding – basic | 43,743,243 | 43,743,243 | ||||||
Effect of dilutive securities: | ||||||||
Stock options and other awards | - | 5,731 | ||||||
Weighted average shares outstanding – diluted | 43,743,243 | 43,748,974 | ||||||
Basic earnings per share | $ | 0.44 | $ | 0.13 | ||||
Diluted earnings per share | $ | 0.44 | $ | 0.13 |