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 sixteen and twenty-eight weeks ended April 9,
1997 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 net
earnings per common and common equivalent share:
SIXTEEN TWENTY-EIGHT
WEEKS ENDED WEEKS ENDED
--------------------------- ---------------------------
APRIL 8, APRIL 9, APRIL 8, APRIL 9,
1998 1997 1998 1997
------------ ------------ ------------ ------------
Weighted average shares outstanding-Basic 20,848,680 19,310,600 20,808,107 19,267,789
Share equivalents 390,573 356,876 383,380 358,936
------------ ------------ ------------ ------------
Weighted average shares and equivalents-Diluted 21,239,253 19,667,476 21,191,487 19,626,725
------------ ------------ ------------ ------------
------------ ------------ ------------ ------------
Net earnings:
Net earnings for basic and diluted
earnings per share computation $ 4,874,561 $ 3,803,255 $ 8,798,477 $ 7,032,460
------------ ------------ ------------ ------------
------------ ------------ ------------ ------------
24