H.B. Fuller Company and Consolidated Subsidiaries Exhibit 11
Computation of Net Earnings Per Common Share
Years Ended November 30, 1995, 1994, and 1993
(Dollars in thousands, except share amounts)
1995 1994 1993
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Primary
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Earnings:
Earnings before accounting change $31,195 $30,863 $21,701
Dividends on preferred stock (15) (15) (15)
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Earnings before acctg. chg. applicable to common stock 31,180 30,848 21,686
Cumulative effect of accounting change (2,532) (11,717)
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Earnings applicable to common stock $28,648 $30,848 $9,969
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Shares:
Weighted average number of common shares outstanding 13,967,716 13,926,957 13,883,904
Common share equivalents of stock options outstanding
(determined by the treasury stock method using
average quarterly prices) 91,000 109,377 134,048
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Weighted average shares outstanding and common
stock equivalent shares 14,058,716 14,036,334 14,017,952
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Primary earnings per common share:
Earnings before accounting change per share $2.22 $2.20 $1.55
Cumulative effect of accounting change per share (0.18) (0.84)
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Net earnings per common share $2.04 $2.20 $0.71
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This calculation is submitted in accordance with Securities Exchange Act of 1934 Release
No. 9083 although not required by footnote 2 to paragraph 14 of APB Opinion No. 15 because
it results in dilution of less than 3%.
Assuming full dilution
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Earnings:
Earnings are exactly the same as presented above
under primary.
Shares:
Weighted average number of common shares outstanding 13,967,716 13,926,957 13,883,904
Common share equivalents of stock options outstanding
(determined by the treasury stock method using
higher of quarter end or average quarterly prices) 90,701 109,936 134,834
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Weighted average shares outstanding and common
stock equivalent shares 14,058,417 14,036,893 14,018,738
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Earnings per common share assuming full dilution:
Earnings before accounting change per share $2.22 $2.20 $1.55
Cumulative effect of accounting change per share (0.18) (0.84)
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Net earnings per common share $2.04 $2.20 $0.71
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