KAMAN CORPORATION AND SUBSIDIARIES
EXHIBIT 11 - EARNINGS PER COMMON SHARE COMPUTATION
(In thousands except per share amounts)
For the Three Months For the Six Months
Ended June 30, Ended June 30,
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1995 1994 1995 1994
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Primary:
Net earnings applicable to
common stock $ 3,734 $ 3,667 $ 8,355 $ 6,978
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Weighted average number
of common shares outstanding 18,306 18,190 18,266 18,158
Weighted avg. shares issuable on
exercise of dilutive stock options 210 83 192 97
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Total 18,516 18,273 18,458 18,255
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Net earnings per common share-
primary $ .20 $ .20 $ .45 $ .38
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Fully diluted:
Net earnings applicable to
common stock $ 3,734 $ 3,667 $ 8,355 $ 6,978
Elimination of interest expense
on 6% subordinated convertible
debentures (net after taxes) 297 309 597 *
Elimination of preferred stock
dividend requirement 929 929 1,858 *
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Net earnings (as adjusted) $ 4,960 $ 4,905 $ 10,810 $ 6,978
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Weighted avg. no. of shares out-
standing including shares issuable
on exercise of stock options 18,516 18,273 18,458 18,255
Shares issuable on conversion of
6% subordinated convertible
debentures 1,421 1,421 1,421 *
Shares issuable on conversion of
Series 2 preferred stock 4,551 4,551 4,551 *
Additional shares using ending
mkt. price instead of avg. mkt.
on treasury method use of stock
option proceeds 28 - 14 -
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Total 24,516 24,245 24,444 18,255
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Net earnings per common share -
fully diluted $ .20 $ .20 $ .44 $ .38
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* Anti-dilutive and accordingly not included in the computation.
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