EXHIBIT 11.1
NEWBRIDGE NETWORKS CORPORATION
COMPUTATION OF EARNINGS PER SHARE
(Accounting principles generally accepted in Canada)
(Canadian dollars, amounts in thousands except per share data)
(Unaudited)
Fiscal quarter ended Three fiscal quarters ended
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Jan 26, Jan 28, Jan 26, Jan 28,
1997 1996 1997 1996
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Basic earnings per share
Net earnings $63,031 $53,881 $186,613 $136,369
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Common Shares outstanding
at the beginning of the period 170,741 165,752 168,676 164,515
Weighted average number of Common Shares
issued, net of Common Shares
repurchased, during the period 200 796 1,464 1,327
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Weighted average number of Common Shares
outstanding at the end of the period 170,941 166,548 170,140 165,842
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Basic earnings per share $0.37 $0.32 $1.10 $0.82
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Fully diluted earnings per share
Earnings before imputed earnings $63,031 $53,881 $186,613 $136,369
After tax imputed earnings from the investment
of funds received through dilution 2,693 2,721 8,241 7,589
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Adjusted net earnings $65,724 $56,602 $194,854 $143,958
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Weighted average number of Common Shares
outstanding at the end of the period 170,941 166,548 170,140 165,842
Weighted average common share
equivalents based on conversion of
outstanding stock options 14,096 13,986 13,500 13,823
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Weighted average number of Common
Shares and equivalents outstanding at
the end of the period 185,037 180,534 183,640 179,665
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Fully diluted earnings per share $0.36 $0.31 $1.06 $0.80
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Earnings per share expressed in U.S. Dollars
Daily average exchange rate of a Canadian
dollar for U.S. dollars as reported by the
Federal Reserve Bank of New York $0.7406 $0.7342 $0.7346 $0.7354
Basic earnings per share, in U.S. dollars $0.27 $0.24 $0.81 $0.60
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Fully diluted earnings per share, in U.S. dollars $0.26 $0.23 $0.78 $0.59
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(Page 26 of 27)