Exhibit 11
APPLIED POWER INC.
COMPUTATION OF EARNINGS PER SHARE
(In thousands, except per share amounts)
Three Months Ended Nine Months Ended
May 31, May 31,
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1995 1994 1995 1994
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PRIMARY:
Average shares outstanding 13,307 13,075 13,251 13,034
Net effect of dilutive options based
on the treasury stock method
using average market price 457 300 434 199
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Total 13,764 13,375 13,685 13,233
Net earnings (loss):
Continuing operations $ 7,305 $ 5,343 $17,384 $11,568
Discontinued operations - - - (348)
Extraordinary loss on debt extinguishment - - (4,920) -
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Net Earnings $ 7,305 $ 5,343 $12,464 $11,220
Primary earnings (loss) per share:
Continuing operations $ 0.53 $ 0.40 $ 1.27 $ 0.87
Discontinued operations - - - (0.03)
Extraordinary loss on debt extinguishment - - (0.36) -
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Net Earnings $ 0.53 $ 0.40 $ 0.91 $ 0.85
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FULLY DILUTED: (A)
Average shares outstanding 13,307 13,075 13,251 13,034
Net effect of dilutive options based
on the treasury stock method
using the greater of average
or period-end market price 461 300 485 269
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Total 13,768 13,375 13,736 13,303
Net earnings (loss):
Continuing operations $ 7,305 $ 5,343 $17,384 $11,568
Discontinued operations - - - (348)
Extraordinary loss on debt extinguishment - - (4,920) -
------- ------- ------- -------
Net Earnings $ 7,305 $ 5,343 $12,464 $11,220
Fully diluted earnings (loss) per share:
Continuing operations $ 0.53 $ 0.40 $ 1.27 $ 0.87
Discontinued operations - - - (0.03)
Extraordinary loss on debt extinguishment - - (0.36) -
------- ------- ------- -------
Net Earnings $ 0.53 $ 0.40 $ 0.91 $ 0.84
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(A) Dilution of less than 3%; therefore not presented in Condensed
Consolidated Statement of Earnings.
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