EXHIBIT 11.01
CONSOLIDATED PRODUCTS, INC.
COMPUTATION OF EARNINGS PER SHARE
NET EARNINGS PER COMMON AND COMMON EQUIVALENT SHARE
In February 1997, the Financial Accounting Standards Board issued
Statement of Financial Accounting Standard No. 128, "Earnings Per Share".
Statement 128 replaced the previously reported primary and fully diluted
earnings per share with basic and diluted earnings per share. Under the new
requirements for computing basic earnings per share, the dilutive effect of
stock options is excluded. Diluted earnings per share is very similar to the
previously reported fully diluted earnings per share. All earnings per share
amounts have been presented, and where necessary, have been restated to
conform to the requirements of Statement 128.
Diluted earnings per common and common equivalent share is computed by
dividing net earnings by the weighted average number of outstanding and
common equivalent shares. Common equivalent shares include shares subject to
purchase under stock options.
Net earnings per common and common equivalent share and weighted average
shares and equivalents for the twelve weeks ended December 18, 1996 have been
restated to give effect to the five for four stock split declared on December
3, 1997, distributed on December 26, 1997 to shareholders of record on
December 15, 1997.
The following table presents information necessary to calculate basic
and diluted earnings per common and common equivalent share:
TWELVE WEEKS ENDED
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DECEMBER 17, DECEMBER 18,
1997 1996
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Weighted average shares outstanding - Basic 20,754,009 19,210,709
Share equivalents 373,790 361,684
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Weighted average shares and equivalents - Diluted 21,127,799 19,572,393
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Net earnings for basic and diluted earnings
per share computation $ 3,923,916 $ 3,229,205
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