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 QUARTERS ENDED TWO FISCAL QUARTERS ENDED
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Nov 1, Nov 2, Nov 1, Nov 2,
1998 1997 1998 1997
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BASIC EARNINGS PER SHARE
Net earnings $ 53,314 $ 57,993 $ 88,834 $122,347
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Common Shares outstanding
at the beginning of the period 176,558 174,245 175,686 171,859
Weighted average number of Common Shares
issued during the period 208 488 744 1,971
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Weighted average number of Common Shares
outstanding during the period 176,766 174,733 176,430 173,830
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Basic earnings per share $ 0.30 $ 0.33 $ 0.50 $ 0.70
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FULLY DILUTED EARNINGS PER SHARE
Earnings before imputed earnings $ 53,314 $ 57,993 $ 88,834 $122,347
After tax imputed earnings from the investment
of funds received through dilution -- 4,363 -- 8,342
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Adjusted net earnings $ 53,314 $ 62,356 $ 88,834 $130,689
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Weighted average number of Common Shares
outstanding during the period 176,766 174,733 176,430 173,830
Weighted average common share
equivalents based on conversion of
outstanding stock options -- 15,783 -- 15,953
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Weighted average number of Common
Shares and equivalents outstanding
during the period 176,766 190,516 176,430 189,783
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Fully diluted earnings per share $ 0.30 $ 0.33 $ 0.50 $ 0.69
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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 $ 0.6520 $ 0.7204 $ 0.6667 $ 0.7223
Basic earnings per share, in U.S. dollars $ 0.20 $ 0.24 $ 0.34 $ 0.51
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Fully diluted earnings per share, in U.S. dollars $ 0.20 $ 0.24 $ 0.34 $ 0.50
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