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Detroit Diesel Corporation Form 10-Q (continued)
EXHIBIT 11
Detroit Diesel Corporation
Statement of Computation of Earnings Per Share
Three Months Ended June 30, Six Months Ended June 30,
1998 1997 1998 1997
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Basic net income per share
Net income $ 10,400,000 $ 7,400,000 $ 20,100,000 $ 13,800,000
Weighted average number of shares outstanding 24,701,899 24,699,566 24,701,858 24,699,566
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Basic net income per share $ 0.42 $ 0.30 $ 0.81 $ 0.56
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Diluted net income per share:
Net income $ 10,400,000 $ 7,400,000 $ 20,100,000 $ 13,800,000
Weighted average number of shares outstanding 24,701,899 24,699,566 24,701,858 24,699,566
Dilutive effect of stock options 102,768 (1) 40,687 (2) 82,891 (1) 13,964 (2)
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Weighted average number of shares outstanding 24,804,667 24,740,253 24,784,749 24,713,530
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Diluted net income per share $ 0.42 $ 0.30 $ 0.81 $ 0.56
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(1) Represents the weighted average dilutive effect of 301,310,
265,250, 103,750, 20,000, 2,500 and 219,250 stock options
exercisable at $20.00, $17.00, $23.75, $21.81, $23.94 and $22.69
per share, respectively, calculated using the treasury stock
method.
(2) Represents the weighted average dilutive effect of 300,250,
267,500, 106,000 and 5,000 stock options exercisable at $20.00,
$17.00, $23.75 and $18.00 per share, respectively, calculated
using the treasury stock method.
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