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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 Nine Months
Ended September 30, Ended September 30,
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2002 2001 2002 2001
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<s> <c> <c> <c> <c>
Basic:
Net earnings (loss) $ 5,572 $ 8,526 $(39,453) $ 4,772
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Weighted average number of
shares outstanding 22,446 22,429 22,394 22,372
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Net earnings (loss) per share
- basic $ .25 $ .38 $ (1.76) $ .21
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Diluted:
Net earnings (loss) $ 5,572 $ 8,526 $(39,453) $ 4,772
Elimination of interest expense
on 6% subordinated convertible
debentures (net after taxes) 230 278 689 814
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Net earnings (loss)(as adjusted)$ 5,802 $ 8,804 $(38,764) $ 5,586
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Weighted average number of
shares outstanding 22,446 22,429 22,394 22,372
Weighted average shares issuable
on conversion of 6%
subordinated convertible
debentures 994 1,065 1,014 1,084
Weighted average shares issuable
on exercise of diluted stock
options 81 176 172 230
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Total 23,521 23,670 23,580 23,686
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Net earnings (loss) per share
- diluted* $ .25 $ .37 $ (1.76) $ .21
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*The calculated diluted per share amounts for the nine months ended
September 30, 2002 and 2001 are anti-dilutive, therefore, amounts
shown are equal of the basic per share calculation.
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