KAMAN CORPORATION AND SUBSIDIARIES
EXHIBIT 11 - EARNINGS PER SHARE COMPUTATION
(In thousands except per share amounts)
For the Three Months For the Six Months
Ended June 30, Ended June 30,
-------------------- ------------------
2000 1999 2000 1999
---- ---- ---- ----
Basic:
Net earnings $ 9,271 $ 8,031 $ 17,827 $ 15,304
======== ======== ======== ========
Weighted average number
of shares outstanding 23,166 23,540 23,146 23,596
======== ======== ======== ========
Net earnings per share
- basic $ .40 $ .34 $ .77 $ .65
======== ======== ======== ========
Diluted:
Net earnings $ 9,271 $ 8,031 $ 17,827 $ 15,304
Elimination of interest
expense on 6% subordinated
convertible debentures
(net after taxes) 255 257 522 524
-------- -------- -------- --------
Net earnings
(as adjusted) $ 9,526 $ 8,288 $ 18,349 $ 15,828
======== ======== ======== ========
Weighted average number of
shares outstanding 23,166 23,540 23,146 23,596
Weighted average shares
issuable on conversion
of 6% subordinated
convertible debentures 1,136 1,208 1,165 1,236
Weighted average shares
issuable on exercise of
diluted stock options 26 126 31 136
-------- -------- -------- --------
Total 24,328 24,874 24,342 24,968
======== ======== ======== ========
Net earnings per share
- diluted $ .39 $ .33 $ .75 $ .63
======== ======== ======== ========