EXHIBIT 11
PLY GEM INDUSTRIES, INC. AND SUBSIDIARIES
SCHEDULE OF COMPUTATION OF NET INCOME PER SHARE
QUARTER ENDED JUNE 30,
(IN THOUSANDS)
1997 1996
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FULLY FULLY
PRIMARY DILUTED PRIMARY DILUTED
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Weighted average number of common shares
outstanding during year............. 13,827 13,827 14,179 14,179
Excess of weighted average number of
shares issuable upon exercise of
employee stock options over 20% of
shares outstanding at end
of quarter.......................... 2,759 2,759 1,923 1,923
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Weighted average number of shares....... 16,586 16,586 16,102 16,102
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Proceeds available to repay debt:
From exercise of options, including
tax benefits, at average market
price.............................. $37,772 $29,562
From exercise of options, including
tax benefits, at quarter-end -
market price....................... $33,447 $30,508
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$37,772 $33,447 $29,562 $30,508
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Interest saved, net of taxes............ 409 362 302 312
Net income as reported.................. 3,033 3,033 4,157 4,157
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Adjusted net income..................... $ 3,442 $ 3,395 $ 4,459 $ 4,469
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Per share............................... $.20 $.20 $.28 $.28
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