Exhibit 11
THE STANLEY WORKS AND SUBSIDIARIES
COMPUTATION OF EARNINGS PER SHARE
(dollars and shares in thousands
except per share amounts)
FIRST QUARTER ENDED
APRIL 1 APRIL 2
1995 1994
Earnings per common share:
Weighted average shares outstanding 44,414 44,771
====== ======
Net earnings $28,736 $25,593
====== ======
Per share amounts $0.65 $0.57
====== ======
PRIMARY:
Weighted average shares outstanding 44,414 44,771
Dilutive common stock equivalents -
based on the treasury stock method
using average market price 480 646
------ ------
44,894 45,417
====== ======
Per share amounts $0.64 $0.56
====== ======
FULLY DILUTED:
Weighted average shares outstanding 44,414 44,771
Dilutive common stock equivalents -
based on the treasury stock method
using the quarter end market price
if higher than average market price 480 646
------ ------
44,894 45,417
====== ======
Per share amounts $0.64 $0.56
====== ======
<FN>
Note: This calculation is submitted in accordance with Regulation S-K
item 601(b)(11) although not required by footnote 2 to paragraph 14
of APB Opinion No. 15 because it results in dilution of less than 3%.