KAMAN CORPORATION AND SUBSIDIARIES
EXHIBIT 11 - EARNINGS (LOSS) PER SHARE COMPUTATION
(In thousands except per share amounts)
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For the Three Months For the Six Months
Ended June 30, Ended June 30,
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2001 2000 2001 2000
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<s> <c> <c> <c> <c>
Basic:
Net earnings (loss) $(12,495) $ 9,271 $ (3,754) $ 17,827
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Weighted average number
of shares outstanding 22,377 23,166 22,343 23,146
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Net earnings (loss) per share $ (.56) $ .40 $ (.17) $ .77
- basic ======== ======== ======== ========
Diluted:
Net earnings (loss) $(12,495) $ 9,271 $ (3,754) $ 17,827
Elimination of interest expense
on 6% subordinated convertible
debentures(net after taxes) 280 255 535 522
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Net earnings (loss) (as adjusted)$(12,215) $ 9,526 $ (3,219) $ 18,349
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Weighted average number of
shares outstanding 22,377 23,166 22,343 23,146
Weighted average shares issuable on
conversion of 6% subordinated
convertible debentures 1,066 1,136 1,094 1,165
Weighted average shares issuable on
exercise of diluted stock options 267 26 257 31
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Total 23,710 24,328 23,694 24,342
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Net earnings (loss) per share
- diluted* $ (.56) $ .39 $ (.17) $ .75
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*The calculated diluted per share amounts for 2001 are anti-dilutive,
therefore, amounts shown are equal to the basic per share calculation.
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