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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1999 1998 1999 1998
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Basic:
Net earnings $ 8,197 $ 7,600 $ 23,501 $ 22,193
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Weighted average number
of common shares outstanding 23,455 23,702 23,549 23,317
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Net earnings per common
share - basic $ .35 $ .32 $ 1.00 $ .95
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Diluted:
Net earnings $ 8,197 $ 7,600 $ 23,501 $ 22,193
Elimination of interest expense
on 6% subordinated convertible
debentures(net after taxes) 261 266 785 808
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Net earnings (as adjusted) $ 8,458 $ 7,866 $ 24,286 $ 23,001
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Weighted average number of common
shares outstanding 23,455 23,702 23,549 23,317
Weighted average shares issuable on
conversion of 6% subordinated
convertible debentures 1,207 1,279 1,226 1,298
Weighted average shares issuable on
conversion of Series 2
preferred stock -- -- -- 377
Weighted average shares issuable on
exercise of diluted stock options 133 221 135 266
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Total 24,795 25,202 24,910 25,258
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Net earnings per common share
- diluted $ .34 $ .31 $ .97 $ .91
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