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EXHIBIT 11
STATEMENT RE COMPUTATION OF EARNINGS PER SHARE
ALIGN-RITE INTERNATIONAL, INC.
The computation of net income per share for the years ended March 31, 1996,
1995 and 1994 is as follows:
1996 1995 1994
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PRIMARY
Net income........................................... $4,964,264 $3,423,569 $1,729,130
Reduction of interest expense, net of tax effect..... -- 89,177 --
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$4,964,264 $3,512,746 $1,729,130
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Average common shares outstanding.................... 3,698,037 1,314,725 1,310,725
Conversion of preferred stock........................ -- 1,185,746 1,185,746
Ordinary equivalent shares issuable upon the exercise
of options and warrants currently outstanding to
purchase ordinary shares subject to 20% limitation
on assumed repurchase.............................. 445,157 976,095 37,902
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4,143,194 3,476,566 2,534,373
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Net income per share................................. $ 1.20 $ 1.01 $ 0.68
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FULLY DILUTED
Net income........................................... $4,964,264 $3,423,569 $1,729,130
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Average common shares outstanding.................... 3,698,037 1,314,725 1,310,725
Conversion of preferred stock........................ -- 1,185,746 1,185,746
Ordinary equivalent shares issuable upon the exercise
of options and warrants currently outstanding to
purchase ordinary shares........................... 445,157 990,174 37,902
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4,143,194 3,490,645 2,534,373
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Net income per share................................. $ 1.20 $ 0.98 $ 0.68
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