KAMAN CORPORATION AND SUBSIDIARIES
EXHIBIT 11 - EARNINGS PER COMMON SHARE COMPUTATION
(In thousands except per share amounts)
For the Three Months For the Nine Months
Ended September 30, Ended September 30,
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1998 1997 1998 1997
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Basic:
Net earnings applicable to
common stock $ 7,600 $ 6,168 $ 22,193 $ 6,613
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Weighted average number
of common shares outstanding 23,702 18,954 23,317 18,878
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Net earnings per common
share - basic $ .32 $ .33 $ .95 $ .35
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Diluted:
Net earnings applicable
to common stock $ 7,600 6,168 $ 22,193 $ 6,613
Elimination of interest expense
on 6% subordinated convertible
debentures(net after taxes) 266 267 808 *
Elimination of preferred stock
dividend requirement -- 929 -- *
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Net earnings (as adjusted) $ 7,866 7,364 $ 23,001 $ 6,613
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Weighted average number of common
shares outstanding 23,702 18,954 23,317 18,878
Weighted average shares issuable on
conversion of 6% subordinated
convertible debentures 1,279 1,350 1,298 *
Weighted average shares issuable on
conversion of Series 2
preferred stock -- 4,551 377 *
Weighted average shares issuable on
exercise of diluted stock options 221 333 266 *
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Total 25,202 25,188 25,258 18,878
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Net earnings per common share
- diluted $ .31 $ .29 $ .91 $ .35
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* Anti-dilutive and accordingly not included in the computation.