EXHIBIT 11
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SEI CORPORATION AND SUBSIDIARIES
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EARNINGS PER SHARE CALCULATION
------------------------------
FOR EACH OF THE THREE YEARS IN THE PERIOD ENDED DECEMBER 31, 1995
-----------------------------------------------------------------
1995 1994 1993
---- ---- ----
Earnings per common and common equivalent share
(Primary EPS):
Income from continuing operations $21,126,000 $18,253,000 $12,757,000
========== ========== ==========
Net income $19,184,000 $19,250,000 $16,139,000
========== ========== ==========
Weighted average number of shares issued and
outstanding 18,607,000 18,845,000 19,275,000
Dilutive effect (excess of number of shares issuable over
number of shares assumed to be repurchased with the
proceeds, using the average market price during the
period) of outstanding options 838,000 1,182,000 1,458,000
---------- ---------- ----------
Adjusted weighted average number of shares outstanding 19,445,000 20,027,000 20,733,000
========== ========== ==========
Earnings per common and common equivalent share
from continuing operations $1.09 $.91 $.62
==== === ===
Earnings per common and common equivalent share $.99 $.96 $.78
==== === ===
60
SEI CORPORATION AND SUBSIDIARIES
--------------------------------
EARNINGS PER SHARE CALCULATION
------------------------------
FOR EACH OF THE THREE YEARS IN THE PERIOD ENDED DECEMBER 31, 1995
-----------------------------------------------------------------
1995 1994 1993
---- ---- ----
Earnings per common and common equivalent share,
assuming full dilution (Fully diluted EPS):
Income from continuing operations $21,126,000 $18,253,000 $12,757,000
========== ========== ==========
Net income $19,184,000 $19,250,000 $16,139,000
========== ========== ==========
Weighted average number of shares issued and
outstanding 18,607,000 18,845,000 19,275,000
Dilutive effect (excess of number of shares issuable over
number of shares assumed to be repurchased with the
proceeds, using the higher of the average market price
or year-end market price) of outstanding options 968,000 1,182,000 2,085,000
---------- ---------- ----------
Adjusted weighted average number of shares outstanding,
assuming full dilution 19,575,000 20,027,000 21,360,000
========== ========== ==========
Earnings per common and common equivalent share
from continuing operations, assuming full dilution $1.08 $.91 $.60
==== === ===
Earnings per common and common equivalent share,
assuming full dilution $.98 $.96 $.76
==== === ===
61