Kaman Corporation and Subsidiaries
Exhibit 11-Earning Per Share Computation
(In Thousands Except Per Share Amount)
For the Three Months Ended | |||||||
April 1, 2005 | April 2, 2004 | ||||||
Basic: | |||||||
Net earnings | $ | 4,705 | $ | 1,173 | |||
Weighted average number of shares outstanding | 22,778 | 22,648 | |||||
Net earnings per share-basic | $ | .21 | $ | .05 | |||
Diluted: | |||||||
Net earnings | $ | 4,705 | $ | 1,173 | |||
Elimination of interest expense on 6% subordinated | |||||||
convertible debentures (net after taxes) | 168 | 182 | |||||
Net earnings (as adjusted) | $ | 4,873 | $ | 1,355 | |||
Weighted average number of shares outstanding | 22,778 | 22,648 | |||||
Weighted averages shares issuable on conversion | |||||||
of 6% subordinated debentures | 839 | 910 | |||||
Weighted average shares issuable on exercise | |||||||
of dilutive stock options | 32 | 102 | |||||
Total | 23,649 | 23,660 | |||||
Net earnings per share - diluted | $ | .21 | $ | .05 | |||
*The calculated diluted per share amount for the three months ended April 2, 2004 is anti-dilutive, therefore, amount shown is equal to the basic per share calculation.
Excluded from the net earnings per share-diluted calculation are options granted to employees that are anti-dilutive of 223 and 100 based on the average stock price for the three months ended April 1, 2005 and April 2, 2004, respectively.