FORM 10-Q
SEPTEMBER 30, 1995
EXHIBIT 11
American Power Conversion Corporation
Computation of Earnings Per Share
(Unaudited)
Nine months Ended Three months ended
September 30, September 30,
1995 1994 1995 1994
Primary:
Weighted average
shares outstanding 92,839,686 91,649,969 93,111,856 92,039,392
Net effect of
dilutive stock
options and
warrants based on
the treasury stock
method using
the average market price 652,579 1,250,118 653,620 1,080,276
---------- ---------- --------- ----------
Total 93,492,265 92,900,087 93,765,475 93,119,668
Net Income $52,779,799 48,349,069 17,129,440 19,190,259
Per share amount $0.56 0.52 0.18 0.21
Fully Diluted:
Weighted average shares
outstanding 92,839,686 91,649,969 93,111,856 92,039,392
Net effect of
dilutive stock
options and
warrants based
on the treasury
stock method
using the period
end market price 450,946 1,194,072 450,946 1,194,072
---------- ---------- --------- ----------
Total 93,290,632 92,844,041 93,562,802 93,233,464
Net income $52,779,799 48,349,069 17,129,440 19,190,259
Per share amount $0.56 0.52 0.18 0.21
17