EX-11 5 est-x11.htm EXHIBIT 11

EXHIBIT 11

 

ESTERLINE TECHNOLOGIES CORPORATION
Computation of Basic and Diluted Earnings Per Common Share
For the Three Months Ended January 25, 2002 and January 26, 2001
(Unaudited)
(In thousands, except per share amounts)

   

      Three Months Ended       
   

January 25,
     2002     

  

January 26,
     2001     

Basic

        

Earnings Before Cumulative Effect
    of Change in Accounting Principle

  


$    4,345

  


$    6,669

Cumulative Effect of Change in Accounting Principle,
    Net of Tax of $1,542 and $223

  


     (7,574)

  


        (403)

Net Earnings (Loss)

  

$   (3,229)

  

$    6,266

Weighted Average Number of Shares Outstanding - Basic

  

    20,721

  

    17,427

Earnings per Share Before Cumulative Effect
    of Change in Accounting Principle - Basic

  


$        .21

  


$        .38

Cumulative Effect of Change
    in Accounting Principle - Basic

  


         (.37)

  


         (.02)

Earnings (Loss) per Share - Basic

  

$       (.16)

  

$       .36

ESTERLINE TECHNOLOGIES CORPORATION
Computation of Basic and Diluted Earnings Per Common Share
For the Three Months Ended January 25, 2002 and January 26, 2001
(Unaudited)
(In thousands, except per share amounts)

   

      Three Months Ended       
   

January 25,
     2002     

  

January 26,
     2001     

Diluted

        

Earnings Before Cumulative Effect
    of Change in Accounting Principle

  


$    4,345 

  


$    6,669 

Cumulative Effect of Change in Accounting Principle,
    Net of Tax of $1,542 and $223

  


     (7,574)

  


        (403)

Net Earnings (Loss)

  

$   (3,229)

  

$    6,266 

Weighted Average Number of Shares Outstanding

  

20,721 

  

17,427 

Net Shares Assumed to be Issued for Stock Options 1

  

               - 

  

         445 

Weighted Average Number of Shares
    and Equivalent Shares Outstanding - Diluted

  


    20,721 

  


    17,872 

Earnings per Share Before Cumulative Effect
    of Change in Accounting Principle - Diluted

  


$        .21 

  


$        .37 

Cumulative Effect of Change
    in Accounting Principle - Diluted

  


         (.37)

  


         (.02)

Earnings (Loss) per Share - Diluted

  

$       (.16)

  

$        .35

1 For fiscal 2002, the weighted average number of common shares outstanding was not increased for net shares to be issued for stock options due to the anti-dilutive effect.