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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1998 1997 1998 1997
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Basic:
Net earnings applicable to
common stock $ 7,617 $ 5,781 $ 14,593 $ 445
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Weighted average number
of common shares outstanding 23,722 18,888 23,125 18,840
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Net earnings per common
share - basic $ .32 $ .31 $ .63 $ .02
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Diluted:
Net earnings applicable
to common stock $ 7,617 $ 5,781 $ 14,593 $ 445
Elimination of interest expense
on 6% subordinated convertible
debentures(net after taxes) 265 227 542 *
Elimination of preferred stock
dividend requirement -- 929 -- *
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Net earnings (as adjusted) $ 7,882 $ 6,937 $ 15,135 $ 445
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Weighted average number of common
shares outstanding 23,722 18,888 23,125 18,840
Weighted average shares issuable on
conversion of 6% subordinated
convertible debentures 1,279 1,350 1,307 *
Weighted average shares issuable on
conversion of Series 2
preferred stock -- 4,551 565 *
Weighted average shares issuable on
exercise of diluted stock options 298 241 289 *
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Total 25,299 25,030 25,286 18,840
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Net earnings per common share
- diluted $ .31 $ .28 $ .60 $ .02
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* Anti-dilutive and accordingly not included in the computation.