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, MAY 31, May 31, 1996 1995 1996 1995 ----------- ----------- ----------- ----------- 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 ------- ------- ------- ------- Total 13,994 13,764 13,968 13,685 ======= ======= ======= ======= 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 -====== ======= ======= ======= Primary 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 ======= ======= ======= ======= 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 ------- ------- ------- ------- Total 13,994 13,768 13,968 13,736 ======= ======= ======= ======= 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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