ADOBE SYSTEMS INCORPORATED
EXHIBIT 11
COMPUTATION OF EARNINGS PER COMMON SHARE
(IN THOUSANDS, EXCEPT PER SHARE DATA)
YEARS ENDED
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NOVEMBER 28 NOVEMBER 29 DECEMBER 1
1997 1996 1995
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Net income.............................................................. $ 186,837 $ 153,277 $ 93,485
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Primary shares outstanding:
Weighted average shares outstanding during the year................... 72,077 72,557 71,456
Common stock equivalent shares........................................ 2,055 2,507 2,797
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74,132 75,064 74,253
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Fully diluted shares outstanding:
Weighted average shares outstanding during the year................... 72,077 72,557 71,456
Common stock equivalent shares........................................ 2,166 2,670 2,958
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74,243 75,227 74,414
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Primary net income per common stock and common stock equivalent share... $ 2.52 $ 2.04 $ 1.26
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Fully diluted net income per common stock and common stock equivalent
share................................................................. $ 2.52 $ 2.04 $ 1.26
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70