EXHIBIT 11
ELECTRO SCIENTIFIC INDUSTRIES, INC.
AND SUBSIDIARIES
CALCULATION OF EARNINGS PER SHARE
(thousands of dollars except per share amounts)
NUMBER OF SHARES
-----------------
YEARS ENDED MAY 31,
-------------------
1996 1995 1994
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Weighted average number of shares of
common stock outstanding 8,605,782 7,510,191 6,332,833
Common stock equivalents:
Application of the treasury stock method
to the stock option plan - - 81,110
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Weighted average number of shares used
in net income per share 8,605,782 7,510,191 6,413,943
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Net income $ 16,082 $ 11,517 $ 7,874
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Net income per share (primary and fully
diluted) (1): $ 1.87 $ 1.53 $ 1.23
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(1) No additional shares related to outstanding options are included in the
primary and fully diluted calculation for the years ended May 31, 1996
and 1995, as the differences were not significant.
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