EXHIBIT 11
ESTERLINE TECHNOLOGIES CORPORATION
Computation of Basic and Diluted Earnings Per Common Share
For the Three and Six Month Periods Ended May 1, 2015 and May 2, 2014
(Unaudited)
(In thousands, except per share amounts)
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| Three Months Ended |
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| Six Months Ended |
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| May 1, |
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| May 2, |
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| May 1, |
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| May 2, |
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| 2015 |
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| 2014 |
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| 2015 |
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| 2014 |
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Net Sales |
| $ | 500,080 |
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| $ | 510,861 |
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| $ | 946,424 |
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| $ | 996,801 |
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Gross Margin |
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| 163,651 |
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| 179,225 |
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| 309,001 |
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| 349,960 |
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Net Earnings from Continuing Operations Attributable to Esterline, Net of Tax |
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| 21,632 |
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| 40,595 |
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| 46,690 |
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| 74,538 |
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Loss from Discontinued Operations Attributable to Esterline, Net of Tax |
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| (1,822 | ) |
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| (3,691 | ) |
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| (18,561 | ) |
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| (7,556 | ) |
Net Earnings Attributable to Esterline |
| $ | 19,810 |
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| $ | 36,904 |
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| $ | 28,129 |
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| $ | 66,982 |
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Basic |
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Weighted Average Number of Shares Outstanding |
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| 31,005 |
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| 31,867 |
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| 31,306 |
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| 31,733 |
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Earnings (Loss) Per Share Attributable to Esterline - Basic: |
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Continuing Operations |
| $ | 0.70 |
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| $ | 1.28 |
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| $ | 1.49 |
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| $ | 2.35 |
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Discontinued Operations |
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| (0.06 | ) |
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| (0.12 | ) |
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| (0.59 | ) |
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| (0.24 | ) |
Earnings (Loss) Per Share Attributable to Esterline - Basic |
| $ | 0.64 |
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| $ | 1.16 |
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| $ | 0.90 |
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| $ | 2.11 |
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Diluted |
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Weighted Average Number of Shares Outstanding |
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| 31,005 |
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| 31,867 |
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| 31,306 |
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| 31,733 |
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Net Shares Assumed to be Issued for Stock Options and RSUs |
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| 520 |
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| 608 |
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| 533 |
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| 615 |
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Weighted Average Number of Shares and Equivalent Shares Outstanding - Diluted |
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| 31,525 |
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| 32,475 |
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| 31,839 |
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| 32,348 |
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Earnings (Loss) Per Share Attributable to Esterline - Diluted: |
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Continuing Operations |
| $ | 0.69 |
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| $ | 1.25 |
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| $ | 1.46 |
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| $ | 2.30 |
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Discontinued Operations |
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| (0.06 | ) |
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| (0.11 | ) |
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| (0.58 | ) |
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| (0.23 | ) |
Earnings (Loss) Per Share Attributable to Esterline - Diluted |
| $ | 0.63 |
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| $ | 1.14 |
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| $ | 0.88 |
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| $ | 2.07 |
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