KAMAN CORPORATION AND SUBSIDIARIES
EXHIBIT 11 - EARNINGS PER SHARE COMPUTATION
(In thousands except per share amounts)
For the Three Months
Ended March 31,
--------------------
2000 1999
---- ----
Basic:
Net earnings $ 8,556 $ 7,273
======== ========
Weighted average number of
shares outstanding 23,126 23,652
======== ========
Net earnings per share - basic $ .37 $ .31
======== ========
Diluted:
Net earnings $ 8,556 $ 7,273
Elimination of interest expense on 6%
subordinated convertible debentures
(net after taxes) 267 267
-------- --------
Net earnings (as adjusted) $ 8,823 $ 7,540
======== ========
Weighted average number of shares
outstanding 23,126 23,652
Weighted average shares issuable on conversion
of 6% subordinated convertible debentures 1,194 1,265
Weighted average shares issuable on exercise
of diluted stock options 36 145
-------- --------
Total 24,356 25,062
======== ========
Net earnings per share - diluted $ .36 $ .30
======== ========