Exhibit Number 11
Graco Inc. & Subsidiaries
Computation of Per Share Earnings
Years Ended
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(In thousands, except per share amounts) December 27, December 29, December 30,
- -------------------------------------------------------------------------------- 1996 1995 1994
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PRIMARY
Net earnings applicable to common stock:
Net earnings $36,169 $27,706 $15,326
Less dividends on preferred stock -- 61 74
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$36,169 $27,645 $15,252
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Average number of common shares and common equivalent shares outstanding:
Average number of common shares outstanding 17,229 17,214 17,309
Dilutive effect of stock options computed based on
the treasury stock method using average market price 255 206 63
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17,484 17,420 17,372
Net earnings per common share and common equivalent share $ 2.07 $ 1.59 $ .88
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FULLY DILUTED
Net earnings applicable to common stock:
Net earnings $36,169 $27,706 $15,326
Less dividends on preferred stock -- 61 74
------------ ------------ ------------
$36,169 $27,645 $15,252
============ ============ ============
Average number of common shares and common equivalent shares outstanding:
Average number of common shares outstanding 17,229 17,214 17,309
Dilutive effect of stock options computed based on the treasury stock
method using the year end market price, if higher than average market price 277 227 73
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17,506 17,441 17,382
Net earnings per common share and common equivalent share $ 2.07 $ 1.59 $ .88
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