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
No. 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 No. 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 and forty weeks ended July 2, 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:
TWELVE FORTY
WEEKS ENDED WEEKS ENDED
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JULY 1, JULY 2, JULY 1, JULY 2,
1998 1997 1998 1997
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Weighted average shares
outstanding-Basic 20,911,894 19,400,674 20,839,243 19,307,655
Share equivalents 414,904 307,211 392,837 343,419
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Weighted average shares and
equivalents-Diluted 21,326,798 19,707,885 21,232,080 19,651,074
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Net earnings:
Net earnings for basic and diluted
earnings per share computation $ 5,322,238 $ 4,555,631 $ 14,120,715 $ 11,588,092
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