EXHIBIT 11 (1995 10-K) APPLIED POWER INC. COMPUTATION OF EARNINGS PER SHARE (DOLLARS IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)
YEARS ENDED AUGUST 31, ----------------------------- 1995 1994 1993 ------- ------- ------- 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 ------- ------- ------- Total..................................................... 13,746 13,289 13,099 ======= ======= ======= 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) ------- ------- ------- Net Earnings (Loss)....................................... $20,085 $16,548 $(1,051) ======= ======= ======= 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) ------- ------- ------- Net Earnings (Loss)....................................... $ 1.46 $ 1.25 $ (0.08) ======= ======= ======= 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 ------- ------- ------- Total..................................................... 13,958 13,477 13,104 ======= ======= ======= 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) ------- ------- ------- Net Earnings (Loss)....................................... $20,085 $16,548 $(1,051) ======= ======= ======= 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) ------- ------- ------- Net Earnings (Loss)....................................... $ 1.44 $ 1.23 $ (0.08) ======= ======= ======= (A) (A) (A)
- - ------------------------- (A) Dilution of less than 3%, therefore not presented in Consolidated Statement of Earnings.