EXHIBIT 11
Modine Manufacturing Company and Subsidiaries
Statement Re: Computation of Per Share Earnings
For The Year Ended March 31
1997 1996 1995
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Primary
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Weighted Average Shares Outstanding 29,836,300 29,669,997 29,682,441
Net Shares Issuable, Assuming Exercise
of Options Using the Average
Market Price and Employing the
Treasury Stock Method 583,222 746,451 851,894
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Average Common Share and Common
Share Equivalents 30,419,522 30,416,448 30,534,335
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Net Earnings for the Period $63,763,000 $61,399,000 $68,442,000
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Net Earnings per Share of Common Stock $2.10 $2.02 $2.24
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Fully Diluted
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Weighted Average Shares Outstanding 29,836,300 29,669,997 29,682,441
Net Shares Issuable, Assuming Exercise
of Options Using the Ending Market
Price (unless antidilutive) and
Employing the Treasury Stock Method 584,004 744,413 938,642
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Average Common Shares and Common
Share Equivalents 30,420,304 30,414,410 30,621,083
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Net Earnings for the Period $63,763,000 $61,399,000 $68,442,000
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Net Earnings per Share of Common Stock $2.10 $2.02 $2.24
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