KAMAN CORPORATION AND SUBSIDIARIES
EXHIBIT 11 - EARNINGS PER COMMON SHARE COMPUTATION
(In thousands except per share amounts)
For the Three Months
Ended March 31,
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1995 1994
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Primary:
Net earnings applicable to common stock $ 4,621 $ 3,311
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Weighted average number of common
shares outstanding 18,225 18,127
Weighted average shares issuable on
exercise of dilutive stock options 175 109
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Total 18,400 18,236
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Net earnings per
common share - primary $ .25 $ .18
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Fully diluted:
Net earnings applicable to common stock $ 4,621 $ 3,311
Elimination of interest expense on 6%
subordinated convertible debentures
(net after taxes) 300 *
Elimination of preferred stock dividend
requirement 929 *
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Net earnings(as adjusted) $ 5,850 $ 3,311
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Weighted average number of shares
outstanding including shares
issuable on stock option exercises 18,400 18,236
Shares issuable on conversion of 6%
subordinated convertible debentures 1,421 *
Shares issuable on conversion of
Series 2 preferred stock 4,552 *
Additional shares using ending market
price instead of average market on
treasury method use of stock option
proceeds --- ---
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Total 24,373 18,236
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Net earnings per common share
- fully diluted $ .24 $ .18
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* Anti-dilutive and accordingly not included in the computation
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