EXHIBIT 11 APPLIED POWER INC. COMPUTATION OF EARNINGS PER SHARE (IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)
Three Months Ended Six Months Ended -------------------------- ---------------------------- FEBRUARY 28, February 29, FEBRUARY 28, February 29, 1997 1996 1997 1996 ----------- ------------- ------------- ------------- PRIMARY: Average shares outstanding 13,768 13,420 13,731 13,415 Net effect of dilutive options based on the treasury stock method using average market price 578 502 532 544 ----------- ------------- ------------- ------------- Total 14,346 13,922 14,263 13,959 =========== ============= ============= ============= Net earnings $ 9,469 $ 7,650 $ 19,009 $ 15,360 =========== ============= ============= ============= Primary earnings per share $ 0.66 $ 0.55 $ 1.33 $ 1.10 =========== ============= ============= ============= FULLY DILUTED: Average shares outstanding 13,768 13,420 13,731 13,415 Net effect of dilutive options based on the treasury stock method using the greater of average or period-end market price 578 527 579 544 ----------- ------------- ------------- ------------- Total 14,346 13,947 14,310 13,959 =========== ============= ============= ============= Net earnings $ 9,469 $ 7,650 $ 19,009 $ 15,360 =========== ============= ============= ============= Fully diluted earnings per share $ 0.66 $ 0.55 $ 1.33 $ 1.10 =========== ============= ============= =============
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