1
EXHIBIT (11)
THE LINCOLN ELECTRIC COMPANY AND SUBSIDIARIES
COMPUTATION OF EARNINGS PER SHARE
(IN THOUSANDS EXCEPT PER SHARE DATA)
YEAR ENDED DECEMBER 31
----------------------------
1995 1994 1993
------- ------- --------
Primary and fully diluted:
Average shares outstanding.................................. 23,350 21,940 21,704
======= ======= ========
Income (loss) before cumulative effect of accounting
change.................................................... $61,475 $48,008 $(40,536)
Cumulative effect to January 1, 1993 in method of accounting
for income taxes.......................................... 2,468
------- ------- --------
Net income (loss)........................................... $61,475 $48,008 $(38,068)
======= ======= ========
Per share amounts:
Income (loss) before cumulative effect of accounting
change.................................................... $ 2.63 $ 2.19 $ (1.87)
Cumulative effect to January 1, 1993 in method of accounting
for income taxes.......................................... .12
------- ------- --------
Net income (loss)........................................... $ 2.63 $ 2.19 $ (1.75)
======= ======= ========
36