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, 1997 1996 1997 1996 ------- ------- ------- ------- PRIMARY: Average shares outstanding 13,793 13,471 13,753 13,430 Net effect of dilutive options based on the treasury stock method using average market price 611 523 560 538 --------- --------- --------- --------- Total 14,404 13,994 14,313 13,968 ========= ========= ========= ========= Net earnings $ 11,098 $ 9,145 $ 30,107 $ 24,505 ========= ========= ========= ========= Primary earnings per share $ .77 $ .65 $ 2.10 $ 1.75 ========= ========= ========= ========= FULLY DILUTED: Average shares outstanding 13,793 13,471 13,753 13,430 Net effect of dilutive options based on the treasury stock method using the greater of average or period-end market price 637 523 651 538 -------- --------- -------- -------- Total 14,430 13,994 14,404 13,968 ======== ========= ======== ======== Net earnings $ 11,098 $ 9,145 $ 30,107 $ 24,505 ======== ========= ======== ======== Fully diluted earnings per share $ .77 $ .65 $ 2.09 $ 1.75 ======== ========= ======== ========
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