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EXHIBIT 11.1
ALTERA CORPORATION
COMPUTATION OF EARNINGS PER SHARE
(In thousands, except per share amounts)
THREE MONTHS ENDED NINE MONTHS ENDED
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Sept. 30, Sept. 30, Sept. 30, Sept. 30,
1996 1995 1996 1995
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PRIMARY:
Weighted average shares outstanding 43,654 43,429 43,660 43,271
Net effect of dilutive stock options 1,921 2,423 2,134 2,256
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Total 45,575 45,852 45,794 45,527
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Net income $24,118 $23,729 $79,823 $58,458
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Income per share $ 0.53 $ 0.52 $ 1.74 $ 1.28
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FULLY DILUTED:
Weighted average shares outstanding 43,654 43,430 43,660 43,271
Net effect of dilutive stock options 2,156 2,463 2,148 2,515
Assumed conversion of convertible subordinated 4,495 4,495 4,495 1,515
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notes
Total 50,305 50,388 50,303 47,301
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Net income $24,118 $23,729 $79,823 $58,458
Add:
Convertible subordinated notes interest, net 1,842 2,083 5,658 2,314
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of income taxes
Adjusted net income $25,960 $25,812 $85,481 $60,772
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Income per share $ 0.52 $ 0.51 $ 1.70 $ 1.29
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