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)
for the fiscal quarter ended for the fiscal year ended
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Aug 2, Nov 1, Jan 31, May 2, May 2, Apr 30, Apr 30,
1998 1998 1999 1999 1999 1998 1997
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Basic earnings (loss) per share
Net earnings (loss) $ 35,520 $ 53,314 $120,119 $(29,792) $179,161 $(18,318) $156,917
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Common Shares outstanding
at the beginning of the period 175,686 176,558 176,877 178,579 175,686 171,859 168,676
Weighted average number of Common
Shares issued during the period 419 208 719 1,526 1,944 2,758 1,834
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Weighted average number of Common
Shares outstanding during the period 176,105 176,766 177,596 180,105 177,630 174,617 170,510
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Basic earnings (loss) per share $ 0.20 $ 0.30 $ 0.68 $ (0.17) $ 1.01 $ (0.10) $ 0.92
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Fully diluted earnings (loss) per share
Earnings (loss) before imputed earnings $ 35,520 $ 53,314 $120,119 $(29,792) $179,161 $(18,318) $156,917
After tax imputed earnings from the
investment of funds received
through dilution 6,817 -- 7,353 -- -- -- 11,589
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Adjusted net earnings (loss) $ 42,337 $ 53,314 $127,472 $(29,792) $179,161 $(18,318) $168,506
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Weighted average number of
Common Shares outstanding
during the period 176,105 176,766 177,596 180,105 177,630 174,617 170,510
Weighted average common share
equivalents based on conversion of
outstanding stock options 20,645 -- 22,355 -- -- -- 14,085
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Weighted average number of Common
Shares and equivalents outstanding
during the period 196,750 176,766 199,951 180,105 177,630 174,617 184,595
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Fully diluted earnings (loss) per share $ 0.20 $ 0.30 $ 0.64 $ (0.17) $ 1.01 $ (0.10) $ 0.91
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Earnings (loss) 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 $ 0.6817 $ 0.6520 $ 0.6515 $ 0.6660 $ 0.6629 $ 0.7116 $ 0.7344
Basic earnings (loss) per share, in
U.S. dollars $ 0.14 $ 0.20 $ 0.44 $ (0.11) $ 0.67 $ (0.07) $ 0.68
Fully diluted earnings (loss) per
share, in U.S. dollars $ 0.14 $ 0.20 $ 0.42 $ (0.11) $ 0.67 $ (0.07) $ 0.67
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