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Exhibit 11
APPLIED POWER INC.
COMPUTATION OF EARNINGS PER SHARE
(In thousands, except per share amounts)
Three Months Ended November 30,
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1994 1993
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PRIMARY:
Average shares outstanding 13,190 13,010
Net effect of dilutive options based
on the treasury stock method
using average market price 432 131
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Total 13,622 13,141
Net earnings (loss):
Continuing operations $5,441 $2,928
Discontinued operations - (348)
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Net Earnings $5,441 $2,580
Primary earnings (loss) per share:
Continuing operations $0.40 $0.22
Discontinued operations - (0.03)
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Net Earnings $0.40 $0.20
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FULLY DILUTED: (A)
Average shares outstanding 13,190 13,010
Net effect of dilutive options based
on the treasury stock method
using the greater of average
or period-end market price 432 131
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Total 13,622 13,141
Net earnings (loss):
Continuing operations $5,441 $2,928
Discontinued operations - (348)
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Net Earnings $5,441 $2,580
Fully diluted earnings (loss) per share:
Continuing operations $0.40 $0.22
Discontinued operations - (0.03)
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Net Earnings $0.40 $0.20
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(A) Dilution of less than 3%; therefore not presented in Condensed Consolidated
Statement of Earnings.
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