EXHIBIT 11.0
NORTHWEST PIPE COMPANY
COMPUTATION OF EARNINGS PER SHARE
(IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)
THREE MONTHS ENDED SIX MONTHS ENDED
JUNE 30, JUNE 30,
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1996 1995 1996 1995
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Net income as reported $2,600 $1,367 $5,368 $2,393
Reduction in interest as a result of conver-
sion of the Series B and Series C Convert-
ible Subordinated Debentures, net of tax -- 46 -- 90
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Net income $2,600 $1,413 $5,368 $2,483
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Earnings per share $.47 $.40 $.97 $.71
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Weighted average shares outstanding:
Common stock 5,263 698 5,263 698
Common stock issuable upon exercise of
stock options 264 157 264 157
Conversion of Series B and Series C
Convertible Subordinated Debentures -- 2,629 -- 2,629
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Shares used in per share calculations 5,527 3,484 5,527 3,484
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