EXHIBIT 11
BLOUNT, INC.
COMPUTATION OF NET INCOME PER COMMON SHARE
(DOLLAR AMOUNTS IN THOUSANDS EXCEPT SHARE DATA)
1994 1993 1992
----------------------- ----------------------- -----------------------
Primary Diluted Primary Diluted Primary Diluted
---------- ---------- ---------- ---------- ---------- ----------
Weighted average common shares outstanding 12,421,167 12,421,167 12,149,905 12,149,905 11,957,060 11,957,060
Incremental shares for stock options 309,566 413,001 125,236 291,293 1,497 1,497
Incremental shares for performance awards 8,451 8,451
---------- ---------- ---------- ---------- ---------- ----------
Total number of shares used in per share calculations 12,730,733 12,834,168 12,283,592 12,449,649 11,958,557 11,958,557
========== ========== ========== ========== ========== ==========
Income (loss) from continuing operations before
extraordinary gain (loss) and cumulative effect
of accounting changes $ 24,304 $ 24,304 $ 12,007 $ 12,007 $ (4,295) $ (4,295)
---------- ---------- ---------- ---------- ---------- ----------
Discontinued operations:
Loss from operations, net (9,666) (9,666) (4,649) (4,649) (1,036) (1,036)
Loss on disposal, net (650) (650)
---------- ---------- ---------- ---------- ---------- ----------
Total from discontinued operations (10,316) (10,316) (4,649) (4,649) (1,036) (1,036)
---------- ---------- ---------- ---------- ---------- ----------
Income (loss) before extraordinary gain (loss) and
cumulative effect of accounting changes 13,988 13,988 7,358 7,358 (5,331) (5,331)
Extraordinary gain (loss) 92 92 (119) (119)
Cumulative effect of accounting changes 6,014 6,014
---------- ---------- ---------- ---------- ---------- ----------
Net income $ 14,080 $ 14,080 $ 7,239 $ 7,239 $ 683 $ 683
========== ========== ========== ========== ========== ==========
Income (loss) per common share:
Continuing operations $ 1.91 $ 1.89 $ .98 $ .96 $ (.35) $ (.35)
Discontinued operations (.81) (.80) (.38) (.37) (.09) (.09)
---------- ---------- ---------- ---------- ---------- ----------
Income (loss) before extraordinary gain (loss)
and cumulative effect of accounting changes 1.10 1.09 .60 .59 (.44) (.44)
Extraordinary gain (loss) .01 .01 (.01) (.01)
Cumulative effect of accounting changes .50 .50
---------- ---------- ---------- ---------- ---------- ----------
Net income $ 1.11 $ 1.10 $ .59 $ .58 $ .06 $ .06
========== ========== ========== ========== ========== ==========
Page 54