EXHIBIT 11
(1995 10-K)
APPLIED POWER INC.
COMPUTATION OF EARNINGS PER SHARE
(DOLLARS IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)
YEARS ENDED AUGUST 31,
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1995 1994 1993
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PRIMARY
Average shares outstanding....................................... 13,280 13,057 12,977
Net effect of dilutive options based on the treasury stock method
using average market price..................................... 466 232 122
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Total..................................................... 13,746 13,289 13,099
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Net Earnings (Loss):
Earnings from continuing operations............................ $25,005 $16,896 $ 7,086
Discontinued operations........................................ -- (348) (3,782)
Extraordinary loss............................................. (4,920) -- --
Cumulative effect of accounting change......................... -- -- (4,355)
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Net Earnings (Loss)....................................... $20,085 $16,548 $(1,051)
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Primary Earnings (Loss) per share:
Earnings from continuing operations............................ $ 1.82 $ 1.27 $ 0.54
Discontinued operations........................................ -- (0.03) (0.29)
Extraordinary loss............................................. (0.36) -- --
Cumulative effect of accounting change......................... -- -- (0.33)
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Net Earnings (Loss)....................................... $ 1.46 $ 1.25 $ (0.08)
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FULLY DILUTED
Average shares outstanding....................................... 13,280 13,057 12,977
Net effect of dilutive options based on the treasury stock method
using the greater of average or year-end market price.......... 678 420 127
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Total..................................................... 13,958 13,477 13,104
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Net Earnings (Loss):
Earnings from continuing operations............................ $25,005 $16,896 $ 7,086
Discontinued operations........................................ -- (348) (3,782)
Extraordinary loss............................................. (4,920) -- --
Cumulative effect of accounting change......................... -- -- (4,355)
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Net Earnings (Loss)....................................... $20,085 $16,548 $(1,051)
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Primary Earnings (Loss) per share:
Earnings from continuing operations............................ $ 1.79 $ 1.25 $ 0.54
Discontinued operations........................................ -- (0.03) (0.29)
Extraordinary loss............................................. (0.35) -- --
Cumulative effect of accounting change......................... -- -- (0.33)
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Net Earnings (Loss)....................................... $ 1.44 $ 1.23 $ (0.08)
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(A) (A) (A)
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(A) Dilution of less than 3%, therefore not presented in Consolidated Statement
of Earnings.