Exhibit 11
THERMO ELECTRON CORPORATION
Computation of Earnings per Share
Three Months Ended Nine Months Ended
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September 30, October 1, September 30, October 1,
1995 1994 1995 1994
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Computation of Fully
Diluted Earnings
per Share:
Income:
Net income $ 38,133,000 $ 27,827,000 $100,265,000 $ 75,170,000
Add: Convertible
debenture interest,
net of tax 3,798,000 4,586,000 12,099,000 11,595,000
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Income applicable to
common stock assuming
full dilution (a) $ 41,931,000 $ 32,413,000 $112,364,000 $ 86,765,000
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Shares:
Weighted average shares
outstanding 84,393,438 78,502,671 82,610,308 76,814,367
Add: Shares issuable
from assumed
conversion of
convertible
debentures 19,360,996 24,667,135 20,964,265 22,143,337
Shares issuable
from assumed
exercise of
options (as
determined by
the application
of the treasury
stock method) 1,701,385 852,740 1,701,385 852,740
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Weighted average
shares outstanding,
as adjusted (b) 105,455,819 104,022,546 105,275,958 99,810,444
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Fully Diluted Earnings
per Share (a) / (b) $ .40 $ .31 $ 1.07 $ .87
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