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EXHIBIT 11.0
PACIFIC SCIENTIFIC COMPANY
COMPUTATION OF EARNINGS PER SHARE
(IN THOUSANDS, EXCEPT PER SHARE DATA)
DECEMBER 27, DECEMBER 29, DECEMBER 30,
1996 1995 1994
------------ ------------ ------------
PRIMARY EARNINGS PER SHARE
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Weighted average common and common-equivalent shares:
Weighted average common shares outstanding............ 12,157 11,992 11,851
Assumed exercise of common stock equivalent(1)........ 300 522 364
Assumed conversion of subordinated notes.............. -- -- --
-------- -------- --------
Weighted average common and common equivalent
shares............................................. 12,457 12,514 12,215
======== ======== ========
Net income.............................................. $ 169 $ 12,750 $ 10,261
Interest related to convertible subordinated notes, net
of tax................................................ -- -- --
-------- -------- --------
Earnings available for common stock..................... $ 169 $ 12,750 $ 10,261
======== ======== ========
PRIMARY EARNINGS PER SHARE.............................. $ 0.01 $ 1.02 $ 0.84
======== ======== ========
FULLY DILUTED EARNINGS PER SHARE
- ------------------------------------
Weighted average common and common-equivalent shares:
Weighted average common shares outstanding............ 12,157 11,992 11,851
Assumed exercise of common stock equivalents(1)....... 266 600 568
Assumed conversion of subordinated notes.............. -- 909 --
-------- -------- --------
Weighted average common and common equivalent
shares............................................. 12,423 13,501 12,419
======== ======== ========
Net income.............................................. $ 169 $ 12,750 $ 10,261
Interest related to convertible subordinated notes, net
of tax................................................ -- 868 --
-------- -------- --------
Earnings available for common stock..................... $ 169 $ 13,618 $ 10,261
======== ======== ========
FULLY DILUTED EARNINGS PER SHARE........................ N/A(2) $ 1.01 $ 0.83
======== ======== ========
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(1) Computed based on the treasury stock method.
(2) In 1996, the computation of fully dilutive earnings per share was
antidilutive.
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