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EXHIBIT 11 - STATEMENT RE: COMPUTATION OF PER SHARE EARNINGS
SUDBURY, INC. AND SUBSIDIARIES
THREE MONTHS ENDED
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AUGUST 31, AUGUST 31,
1996 1995
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(In thousands, except per share data)
PRIMARY
Average shares outstanding 10,701 10,349
Net effect of dilutive stock
options and other common
stock equivalents - based
on the treasury stock
method using average
market price 2,298 2,403
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TOTAL 12,999 12,752
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Net income $ 2,774 $ 2,689
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Per share amount $ .21 $ .21
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FULLY DILUTED
Average shares outstanding 10,701 10,349
Net effect of dilutive stock
options and other common
stock equivalents - based
on the treasury stock
method using the quarter end
market price if higher than
average market price 2,435 2,505
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TOTAL 13,136 12,854
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Net income $ 2,774 $ 2,689
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Per share amount $ .21 $ .21
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