EXHIBIT 11
Modine Manufacturing Company and Subsidiaries
Statement Re: Computation of Per Share Earnings
For The Year Ended March 31
1995 1994 1993
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Primary
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Weighted Average Shares Outstanding 29,682,441 29,557,695 29,426,083
Net Shares Issuable, Assuming Exercise
of Options and Stock Appreciation
Rights Using the Average Market
Price and Employing the Treasury
Stock Method 851,894 913,735 737,474
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Average Common Share and Common
Share Equivalents 30,534,335 30,471,430 30,163,557
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Net Earnings for the Period $68,442,000 $43,990,000 $19,987,000
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Net Earnings per Share of Common
Stock $2.24 $1.44 $0.66
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Fully Diluted
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Weighted Average Shares Outstanding 29,682,441 29,557,695 29,426,083
Net Shares Issuable, Assuming Exercise
of Options and Stock Appreciation
Rights Using the Ending Market
Price (unless antidilutive) and
Employing the Treasury Stock
Method 938,642 946,339 854,938
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Average Common Shares and Common
Share Equivalents 30,621,083 30,504,034 30,281,021
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Net Earnings for the Period $68,442,000 $43,990,000 $19,987,000
Net Earnings per Share of Common
Stock $2.24 $1.44 $0.66
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