EXHIBIT 11
ESTERLINE TECHNOLOGIES CORPORATION
Computation of Basic and Diluted Earnings Per Common Share
For the Three and Six Month Periods Ended May 1, 2009 and May 2, 2008
(Unaudited)
(In thousands, except per share amounts)
| Three Months Ended | Six Months Ended | |||||||||||
| May 1, 2009 | May 2, 2008 | May 1, 2009 | May 2, 2008 | |||||||||
Net Sales | $ | 359,502 | $ | 358,033 | $ | 669,219 | $ | 715,358 | ||||
Gross Margin | 112,598 | 121,387 | 214,750 | 236,600 | ||||||||
Net Earnings From Continuing Operations | $ | 25,338 | $ | 23,947 | $ | 36,825 | $ | 53,672 | ||||
Net Earnings From Discontinued Operations | 375 | 1,238 | 15,831 | 2,497 | ||||||||
Net Earnings | $ | 25,713 | $ | 25,185 | $ | 52,656 | $ | 56,169 | ||||
Basic | ||||||||||||
Weighted Average Number of Shares Outstanding | 29,705 | 29,442 | 29,684 | 29,413 | ||||||||
Earnings Per Share – Basic: | ||||||||||||
Continuing Operations | $ | .85 | $ | .81 | $ | 1.24 | $ | 1.82 | ||||
Discontinued Operations | .02 | .05 | .53 | .09 | ||||||||
Earnings Per Share - Basic | $ | .87 | $ | .86 | $ | 1.77 | $ | 1.91 | ||||
Diluted | ||||||||||||
Weighted Average Number of Shares Outstanding | 29,705 | 29,442 | 29,684 | 29,413 | ||||||||
Net Shares Assumed to be Issued for Stock Options | 124 | 440 | 163 | 433 | ||||||||
Weighted Average Number of Shares and Equivalent Shares Outstanding – Diluted | 29,829 | 29,882 | 29,847 | 29,846 | ||||||||
Earnings Per Share – Diluted: | ||||||||||||
Continuing Operations | $ | .85 | $ | .80 | $ | 1.23 | $ | 1.80 | ||||
Discontinued Operations | .01 | .04 | .53 | .08 | ||||||||
Earnings Per Share - Diluted | $ | .86 | $ | .84 | $ | 1.76 | $ | 1.88 | ||||