KAMAN CORPORATION AND SUBSIDIARIES
EXHIBIT 11 - EARNINGS PER SHARE COMPUTATION
(IN THOUSANDS EXCEPT PER SHARE AMOUNT)
For the Three Months
Ended March 31,
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2001 2000
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Basic:
Net earnings $ 8,741 $ 8,556
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Weighted average number of shares
outstanding $ 22,309 $ 23,126
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Net earnings per share - basic $ .39 $ .37
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Diluted:
Net earnings $ 8,741 $ 8,556
Elimination of interest expense on 6%
subordinated convertible debentures
(net after taxes) 255 267
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Net earnings (as adjusted) $ 8,996 $ 8,823
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Weighted average number of shares
outstanding 22,309 23,126
Weighted average shares issuable on
conversion of 6% subordinated convertible
debentures 1,123 1,194
Weighted average shares issuable on
exercise of diluted stock options 246 36
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Total 23,678 24,356
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Net earnings per share - diluted $ .38 $ .36
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