Exhibit 11 APPLIED POWER INC. COMPUTATION OF EARNINGS PER SHARE (IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)
Three Months Ended Six Months Ended February 28, February 28, ------------------ ---------------- 1995 1994 1995 1994 ------- ------ ------- ------ PRIMARY: Average shares outstanding 13,255 13,016 13,223 13,013 Net effect of dilutive options based on the treasury stock method using average market price 407 153 419 141 ------- ------- -------- ------- Total 13,662 13,169 13,642 13,154 Net earnings (loss): Continuing operations $ 4,638 $ 3,297 $ 10,079 $ 6,225 Discontinued operations - - - (348) Extraordinary loss on debt extinguishment (4,920) - (4,920) - ------- ------- -------- ------- Net Earnings $ (282) $ 3,297 $ 5,159 $ 5,877 Primary earnings (loss) per share: Continuing operations $ 0.34 $ 0.25 $ 0.74 $ 0.47 Discontinued operations - - - (0.02) Extraordinary loss on debt extinguishment (0.36) - (0.36) - ------- ------- -------- ------- Net Earnings $ (0.02) $ 0.25 $ 0.38 $ 0.45 ======= ======= ======== ======= FULLY DILUTED: (A) Average shares outstanding 13,255 13,016 13,223 13,013 Net effect of dilutive options based on the treasury stock method using the greater of average or period-end market price 407 235 420 238 ------- ------- -------- ------- Total 13,662 13,251 13,643 13,251 Net earnings (loss): Continuing operations $ 4,638 $ 3,297 $ 10,079 $ 6,225 Discontinued operations - - - (348) Extraordinary loss on debt extinguishment (4,920) - (4,920) - ------- ------- -------- ------- Net Earnings $ (282) $ 3,297 $ 5,159 $ 5,877 Fully diluted earnings (loss) per share: Continuing operations $ 0.34 $ 0.25 $ 0.74 $ 0.47 Discontinued operations - - - (0.03) Extraordinary loss on debt extinguishment (0.36) - (0.36) - ------- ------- -------- ------- Net Earnings $ (0.02) $ 0.25 $ 0.38 $ 0.44 ======= ======= ======= =======
(A) Dilution of less than 3%; therefore not presented in Condensed Consolidated Statement of Earnings. 19