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EXHIBIT 11
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CANNONDALE CORPORATION AND SUBSIDIARIES
EXHIBIT 11
COMPUTATION OF EARNINGS (LOSS) PER SHARE
(IN THOUSANDS, EXCEPT FOR PER-SHARE DATA)
(UNAUDITED)
Three Months Ended Nine Months Ended
March 30, April 1, March 30, April 1,
1996 1995 1996 1995
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Primary Earnings per share computation:
Average shares outstanding .................. 8,564 7,104 8,089 5,479
Net effect of stock options -
based on the treasury stock method .......... 328 360 357 362
Net effect of warrants -
based on the treasury stock method .......... - - - 477
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Weighted average number of common shares
and equivalents outstanding during the
period ................................... 8,892 7,464 8,446 6,318
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Income before extraordinary
item ..................................... $ 4,224 $ 4,923 $ 6,642 $ 4,634
Accumulated preferred stock
dividends ................................ - - - (400)
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Income applicable to common shares
before extraordinary item ................ 4,224 4,923 6,642 4,234
Extraordinary income (loss) ................. - 456 - (685)
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Income applicable to common shares
and equivalents .......................... $ 4,224 $ 5,379 $ 6,642 $ 3,549
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Income per share before extraordinary
item ..................................... $ 0.48 $ 0.66 $ 0.79 $ 0.67
Extraordinary income (loss) per share ....... 0.00 0.06 0.00 (0.11)
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Net income per share ........................ $ 0.48 $ 0.72 $ 0.79 $ 0.56
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Fully diluted earnings per share computation (1):
Average shares outstanding .................. 8,564 7,104 8,089 5,479
Net effect of stock options -
based on the treasury stock method .......... 400 360 409 362
Net effect of warrants -
based on the treasury stock method .......... - - - 477
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Weighted average number of common shares
and equivalents outstanding during the period 8,964 7,464 8,498 6,318
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Income before extraordinary
item ..................................... $ 4,224 $ 4,923 $ 6,642 $ 4,634
Accumulated preferred stock dividends......... - - - (400)
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Income applicable to common shares
before extraordinary item ................ 4,224 4,923 6,642 4,234
Extraordinary income (loss) ................. - 456 - (685)
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Income applicable to common shares
and equivalents .......................... $ 4,224 $ 5,379 $ 6,642 $ 3,549
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Income per share before extraordinary
item ..................................... $ 0.47 $ 0.66 $ 0.78 $ 0.67
Extraordinary income (loss) per share ....... 0.00 0.06 0.00 (0.11)
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Net income per share ........................ $ 0.47 $ 0.72 $ 0.78 $ 0.56
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(1) No effect has been given to the Series A Preferred Stock (redeemed in
December 1994) as their effect would be anti-dilutive.