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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,
1997 1996 1997 1996
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PRIMARY:
Weighted average shares outstanding 88,782 87,308 88,332 87,320
Net effect of dilutive stock options 5,296 3,842 5,288 4,268
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Total 94,078 91,150 93,620 91,588
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Net income $ 38,811 $ 24,118 $112,596 $ 79,823
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Income per share $ 0.41 $ 0.26 $ 1.20 $ 0.87
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FULLY DILUTED:
Weighted average shares outstanding 88,782 87,308 88,332 87,320
Net effect of dilutive stock options 5,296 4,312 5,352 4,296
Assumed conversion of convertible
subordinated notes 8,990 8,990 8,990 8,990
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Total 103,068 100,610 102,674 100,606
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Net income $ 38,811 $ 24,118 $112,596 $ 79,823
Add:
Convertible subordinated notes
interest, net of income taxes and
capitalized interest 2,020 1,842 5,100 5,658
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Adjusted net income $ 40,831 $ 25,960 $117,696 $ 85,481
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Income per share $ 0.40 $ 0.26 $ 1.15 $ 0.85
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