KAMAN CORPORATION AND SUBSIDIARIES
EXHIBIT 11 - EARNINGS PER SHARE COMPUTATION
(In thousands except per share amounts)
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For the Three Months For the Nine Months
Ended September 30, Ended September 30,
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2001 2000 2001 2000
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<s> <c> <c> <c> <c>
Basic:
Net earnings $ 8,526 $ 9,535 $ 4,772 $ 27,362
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Weighted average number
of shares outstanding 22,429 23,217 22,372 23,169
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Net earnings per share $ .38 $ .41 $ .21 $ 1.18
- basic ======== ======== ======== ========
Diluted:
Net earnings $ 8,526 $ 9,535 $ 4,772 $ 27,362
Elimination of interest expense
on 6% subordinated convertible
debentures(net after taxes) 278 255 814 777
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Net earnings (as adjusted) $ 8,804 $ 9,790 $ 5,586 $ 28,139
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Weighted average number of
shares outstanding 22,429 23,217 22,372 23,169
Weighted average shares issuable
on conversion of 6% subordinated
convertible debentures 1,065 1,136 1,084 1,156
Weighted average shares issuable
on exercise of diluted stock
options 176 108 230 57
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Total 23,670 24,461 23,686 24,382
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Net earnings per share
- diluted* $ .37 $ .40 $ .21 $ 1.15
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*The calculated diluted per share amount for the nine months ended
September 30, 2001 is anti-dilutive, therefore, amount shown is equal to
the basic per share calculation.
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