EXHIBIT 11
COMPUTATION OF EARNINGS PER SHARE
(In thousands, except per share amounts)
Year Ended
31-Mar-96 2-Apr-95 3-Apr-94
Primary:
Weighted average shares outstanding 77,026 69,684 60,832
Net effect of dilutive stock options 4,871 5,081 5,400
-------- -------- --------
Total 81,897 74,765 66,232
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Income before extraordinary item $118,249 $ 78,302 $ 40,165
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Net income $120,170 $ 78,302 $ 40,165
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Primary earnings per share:
Income before extraordinary item $ 1.44 $ 1.05 $ 0.61
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Net income $ 1.47 $ 1.05 $ 0.61
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Fully diluted:
Weighted average shares outstanding 77,026 69,684 60,832
Net effect of dilutive stock options 4,871 5,742 6,428
Assumed conversion of convertible subordinated notes 5,856
-------- -------- --------
Total 87,753 75,426 67,260
======== ======== ========
Income before extraordinary item $118,249 $ 78,302 $ 40,165
Net income $120,170 $ 78,302 $ 40,165
Add:
Convertible subordinated notes interest and related expenses,
net of taxes $ 6,596
-------- -------- --------
Adjusted net income $126,766 $ 78,302 $ 40,165
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Fully diluted earnings per share:
Income before extraordinary item $ 1.42 $ 1.04 $ 0.60
======== ======== ========
Net income $ 1.44 $ 1.04 $ 0.60
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<FN>
On August 24, 1995, the Company's Board of Directors approved a two-for-one
stock split in the form of a stock dividend for stockholders of record on August
25, 1995. The distribution of additional shares was on September 15, 1995. Share
information for all periods presented has been retroactively adjusted to reflect
this stock dividend.
</FN>