Exhibit 11
ESTERLINE TECHNOLOGIES CORPORATION
(In thousands, except per share amounts)
Computation of Earnings (Loss) Per Share - Basic
2004 2003 2002 2001 2000
------------- -------------- ------------- -------------- -------------
(Restated) (Restated) (Restated) (Restated) (Restated)
Income From Continuing
Operations $ 30,402 $ 28,643 $ 28,252 $ 46,732 $ 23,785
Income (Loss) From
Discontinued Operations,
Net of Tax 9,181 (5,808) (25,039) (9,780) 3,043
------------- -------------- ------------- -------------- -------------
Earnings Before Cumulative
Effect of a Change in
Accounting Principle 39,583 22,835 3,213 36,952 26,828
Cumulative Effect of a Change
in Accounting Principle,
Net of Tax -- -- (7,574) (403) --
------------- -------------- ------------- -------------- -------------
Net Earnings (Loss) $ 39,583 $ 22,835 $ (4,361) $ 36,549 $ 26,828
============= ============== ============= ============== =============
Weighted Average Number
of Shares
Outstanding - Basic 21,195 20,900 20,751 19,641 17,375
============= ============== ============= ============== =============
Earnings (Loss) Per Share - Basic:
Continuing operations $ 1.43 $ 1.37 $ 1.36 $ 2.38 $ 1.36
Discontinued operations .44 (.28) (1.21) (.50) .18
------------- -------------- ------------- -------------- -------------
Earnings per share before
cumulative effect of
a change in
accounting principle 1.87 1.09 .15 1.88 1.54
Cumulative effect of
a change in
accounting principle -- -- (.36) (.02) --
------------- -------------- ------------- -------------- -------------
Earnings (Loss) Per
Share - Basic $ 1.87 $ 1.09 $ (.21) $ 1.86 $ 1.54
============= ============== ============= ============== =============
ESTERLINE TECHNOLOGIES CORPORATION
(In thousands, except per share amounts)
Computation of Earnings (Loss) Per Share - Diluted
2004 2003 2002 2001 2000
------------- -------------- ------------- -------------- -------------
(Restated) (Restated) (Restated) (Restated) (Restated)
Income From Continuing
Operations $ 30,402 $ 28,643 $ 28,252 $ 46,732 $ 23,785
Income (Loss) From
Discontinued Operations,
Net of Tax 9,181 (5,808) (25,039) (9,780) 3,043
------------- -------------- ------------- -------------- -------------
Earnings Before Cumulative
Effect of a Change in
Accounting Principle 39,583 22,835 3,213 36,952 26,828
Cumulative Effect of a Change
in Accounting Principle,
Net of Tax -- -- (7,574) (403) --
------------- -------------- ------------- -------------- -------------
Net Earnings (Loss) $ 39,583 $ 22,835 $ (4,361) $ 36,549 $ 26,828
============= ============== ============= ============== =============
Weighted Average Number
of Shares Outstanding 21,195 20,900 20,751 19,641 17,375
Net Shares Assumed to be
Issued for Stock Options 344 205 270 373 279
------------- -------------- ------------- -------------- -------------
Weighted Average Number
of Shares and Equivalent
Shares Outstanding -
Diluted 21,539 21,105 21,021 20,014 17,654
============= ============== ============= ============== =============
Earnings (Loss) Per
Share - Diluted:
Continuing operations $ 1.41 $ 1.36 $ 1.34 $ 2.34 $ 1.35
Discontinued operations .43 (.28) (1.19) (.49) .17
------------- -------------- ------------- -------------- -------------
Earnings per share
before cumulative
effect of a change in
accounting principle 1.84 1.08 .15 1.85 1.52
Cumulative effect of
a change in accounting
principle -- -- (.36) (.02) --
------------- -------------- ------------- -------------- -------------
2
2004 2003 2002 2001 2000
------------- -------------- ------------- -------------- -------------
(Restated) (Restated) (Restated) (Restated) (Restated)
Earnings (Loss) Per
Share - Diluted $ 1.84 $ 1.08 $ (.21) $ 1.83 $ 1.52
============= ============== ============= ============== =============
Earnings (Loss) Per
Share - Basic $ 1.87 $ 1.09 $ (.21) $ 1.86 $ 1.54
============= ============== ============= ============== =============
Dilutive Effect Per Share $ .03 $ .01 $ -- $ .03 $ .02
============= ============== ============= ============== =============
3