4
MagneTek, Inc.
Computation of Earnings Per Common Share
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FISCAL YEAR
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1997 1996 1995
(in thousands, except per share amounts)
PRIMARY:
Weighted average shares outstanding 25,741 24,698 24,453
Dilutive stock options based upon
the treasury stock method using
the average market price 637 224 300
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Total 26,378 24,922 24,753
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Net Earnings 24,075 94,164 $2,276
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Per Share Earnings $0.91 ($3.78) $0.09
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FULLY DILUTED:
Weighted average shares outstanding 28,259 24,714 24,680
Dilutive stock options based upon
the treasury stock method
using the year-end market price,
if higher than average market
price 700 224 300
Effect of Convertible debt to equity 2,474 4,688 4,688
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Total 31,433 29,626 29,668
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Earnings $24,075 ($94,164) $2,276
Add: Interest savings on Convertible $3,542 $3,540 $3,480
debt after tax
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Net Earnings $27,617 ($90,624) $5,756
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Per Share Earnings $0.88 * *
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* Per share amounts on a fully diluted basis have been omitted as such
amounts are anti-dilutive in relation to primary per share amounts.