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EXHIBIT 11
ALTERA CORPORATION
COMPUTATION OF EARNINGS PER SHARE
(In thousands, except per share amounts)
THREE MONTHS ENDED SIX MONTHS ENDED
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June 30, June 30, June 30, June 30,
1996 1995 1996 1995
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PRIMARY:
Weighted average shares outstanding 43,706 43,289 43,667 43,193
Net effect of dilutive stock options 2,068 2,235 2,222 2,146
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Total 45,774 45,524 45,889 45,339
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Net income $24,265 $19,632 $55,705 $34,729
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Income per share $ 0.53 $ 0.43 $ 1.21 $ 0.77
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FULLY DILUTED:
Weighted average shares outstanding 43,706 43,289 43,667 43,193
Net effect of dilutive stock options 2,068 2,299 2,211 2,350
Assumed conversion of convertible
subordinated notes 4,495 489 4,495 248
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Total 50,269 46,077 50,373 45,791
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Net income $24,265 $19,632 $55,705 $34,729
Add:
Convertible subordinated notes interest, net
of income taxes 1,896 367 3,816 367
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Adjusted net income $26,161 $19,999 $59,521 $35,096
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Income per share $ 0.52 $ 0.43 $ 1.18 $ 0.77
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