1 BRIGGS & STRATTON CORPORATION AND CONSOLIDATED SUBSIDIARIES EXHIBIT NO. 11 COMPUTATION OF EARNINGS PER SHARE OF COMMON STOCK Fiscal Year Ended ------------------------------------------- June 27, 1999 June 28, 1998 June 29, 1997 ------------- ------------- ------------- COMPUTATIONS FOR STATEMENTS OF INCOME Net income $ 106,101 $ 70,645 $ 61,565 ============= ============= ============= Basic earnings per share of common stock: Average shares of common stock outstanding 23,344 24,666 28,551 ============= ============= ============= Basic earnings per share of common stock $ 4.55 $ 2.86 $ 2.16 ============= ============= ============= Diluted earnings per share of common stock: Average shares of common stock outstanding 23,344 24,666 28,551 Incremental common shares applicable to common stock options based on the common stock average market price during the period 114 109 127 Incremental common shares applicable to restricted common stock based on average market price during the period -- -- 1 ------------- ------------- ------------- Average common shares assuming dilution 23,459 24,775 28,678 ============= ============= ============= Fully diluted earnings per average share of common stock, assuming conversion of all applicable securities $ 4.52 $ 2.85 $ 2.15 ============= ============= =============