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KAMAN CORPORATION AND SUBSIDIARIES
EXHIBIT 11 - EARNINGS (LOSS) PER SHARE COMPUTATION
(IN THOUSANDS EXCEPT PER SHARE AMOUNT)
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For the Three Months For the Six Months
Ended June 30, Ended June 30,
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2002 2001 2002 2001
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<s> <c> <c> <c> <c>
Basic:
Net earnings (loss) $(50,366) $(12,495) $(45,025) $ (3,754)
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Weighted average number of
shares outstanding 22,409 22,377 22,369 22,343
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Net earnings (loss) per share
- basic $ (2.25) $ (.56) $ (2.01) $ (.17)
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Diluted:
Net earnings (loss) $(50,366) $(12,495) $(45,025) $ (3,754)
Elimination of interest expense
on 6% subordinated convertible
debentures (net after taxes) 229 280 458 535
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Net earnings (loss)(as adjusted)$(50,137) $(12,215) $(44,567) $ (3,219)
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Weighted average number of
shares outstanding 22,409 22,377 22,369 22,343
Weighted average shares issuable
on conversion of 6%
subordinated convertible
debentures 995 1,066 1,023 1,094
Weighted average shares issuable
on exercise of diluted stock
options 247 267 217 257
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Total 23,651 23,710 23,609 23,694
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Net earnings (loss) per share
- diluted* $ (2.25) $ (.56) $ (2.01) $ (.17)
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*The calculated diluted per share amounts for 2002 and 2001 are
anti-dilutive, therefore, amounts shown are equal of the basic per
share calculation.
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