EXHIBIT 11
APPLIED POWER INC.
COMPUTATION OF EARNINGS PER SHARE
(IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)
Three Months Ended Nine Months Ended
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MAY 31, May 31, MAY 31, May 31,
1996 1995 1996 1995
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PRIMARY:
- - --------
Average shares outstanding 13,471 13,307 13,430 13,251
Net effect of dilutive options based on the treasury
stock method using average market price 523 457 538 434
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Total 13,994 13,764 13,968 13,685
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Net earnings(loss):
Earnings before extraordinary item $ 9,145 $ 7,305 $24,505 $17,384
Extraordinary loss on debt extinguishment (4,920)
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Net Earnings $ 9,145 $ 7,305 $24,505 $12,464
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Primary earnings(loss) per share:
Earnings before extraordinary item $ .65 $ 0.53 $ 1.75 $ 1.27
Extraordinary loss on debt extinguishment (0.36)
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Net Earnings $ .65 $ 0.53 $ 1.75 $ 0.91
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FULLY DILUTED:
- - --------------
Average shares outstanding 13,471 13,307 13,430 13,251
Net effect of dilutive options based on the treasury
stock method using the greater of average
or period-end market price 523 461 538 485
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Total 13,994 13,768 13,968 13,736
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Net earnings(loss):
Earnings before extraordinary item $ 9,145 $ 7,305 $24,505 $17,384
Extraordinary loss on debt extinguishment (4,920)
------- ------- ------- -------
Net Earnings $ 9,145 $ 7,305 $24,505 $12,464
======= ======= ======= =======
Fully diluted earnings(loss) per share:
Earnings before extraordinary item $ .65 $ 0.53 $ 1.75 $ 1.27
Extraordinary loss on debt extinguishment (0.36)
------- ------- ------- -------
Net Earnings $ .65 $ 0.53 $ 1.75 $ 0.91
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