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 TWO FISCAL QUARTERS ENDED
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Nov 2, Oct 27, Nov 2, Oct 27,
1997 1996 1997 1996
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BASIC EARNINGS PER SHARE
Net earnings $ 57,993 $ 62,781 $122,347 $123,582
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Common shares outstanding
at the beginning of the period 174,245 169,754 171,859 168,676
Weighted average number of Common Shares
issued, net of Common Shares
repurchased, during the period 488 478 1,971 1,060
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Weighted average number of Common Shares
outstanding during the period 174,733 170,232 173,830 169,736
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Basic earnings per share $ 0.33 $ 0.37 $ 0.70 $ 0.73
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FULLY DILUTED EARNINGS PER SHARE
Earnings before imputed earnings $ 57,993 $ 62,781 $122,347 $123,582
After tax imputed earnings from the investment
of funds received through dilution 4,363 2,715 8,342 5,598
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Adjusted net earnings $ 62,356 $ 65,496 $130,689 $129,180
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Weighted average number of Common Shares
outstanding during the period 174,733 170,232 173,830 169,736
Weighted average common share
equivalents based on conversion of
outstanding stock options 15,783 13,899 15,953 13,198
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Weighted average number of Common
Shares and equivalents outstanding
during the period 190,516 184,131 189,783 182,934
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Fully diluted earnings per share $ 0.33 $ 0.36 $ 0.69 $ 0.71
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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 $ 0.7204 $ 0.7322 $ 0.7223 $ 0.7316
Basic earnings per share, in U.S. dollars $ 0.24 $ 0.27 $ 0.51 $ 0.53
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Fully diluted earnings per share, in U.S. dollars $ 0.24 $ 0.26 $ 0.50 $ 0.52
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