-53-
EXHIBIT (11)
STATEMENT RE: COMPUTATION OF PER SHARE EARNINGS
TRINOVA CORPORATION
(In thousands, except per share data)
Year Ended December 31
--------------------------------------
1993 1992 1991
-------- -------- --------
Average shares outstanding 28,321 28,232 28,221
Net effect of dilutive stock options based
upon treasury stock method using average
market price 84 27 21
--------- --------- ---------
Average shares of common stock and
common stock equivalents outstanding 28,405 28,259 28,242
========= ========= =========
Income (loss) before cumulative
effect of accounting change $ 10,511 $ 14,442 $(184,079)
Cumulative effect to January 1, 1993,
of accounting change, net of income
tax benefit (70,229) - -
--------- --------- ---------
Net income (loss) $ (59,718) $ 14,442 $(184,079)
========= ========= =========
Income (loss) before cumulative
effect of accounting change $ .37 $ .51 $ (6.52)
Cumulative effect of accounting
change, net of income tax benefit (2.47) - -
--------- --------- ---------
NET INCOME (LOSS) PER SHARE $ (2.10) $ .51 $ (6.52)
========= ========= =========
<FN>
Note - Net income (loss) per share has been computed on the average number of
common shares outstanding, including common stock equivalents. The assumed
conversion of the Company's 6 percent convertible debentures was not included
in average shares outstanding because the effect of the inclusion would be
anti-dilutive.