EX-11 2 dex11.htm COMPUTATION OF BASIC AND DILUTED EARNINGS Computation of Basic and Diluted Earnings

EXHIBIT 11

ESTERLINE TECHNOLOGIES CORPORATION

Computation of Basic and Diluted Earnings Per Common Share

For the Three and Six Month Periods Ended May 1, 2009 and May 2, 2008

(Unaudited)

(In thousands, except per share amounts)

 

     Three Months Ended    Six Months Ended
     May 1,
2009
   May 2,
2008
   May 1,
2009
   May 2,
2008

Net Sales

   $     359,502    $     358,033    $     669,219    $     715,358

Gross Margin

     112,598      121,387      214,750      236,600

Net Earnings From Continuing Operations

   $ 25,338    $ 23,947    $ 36,825    $ 53,672

Net Earnings From Discontinued Operations

     375      1,238      15,831      2,497
                           

Net Earnings

   $ 25,713    $ 25,185    $ 52,656    $ 56,169
                           

Basic

           

Weighted Average Number of Shares Outstanding

     29,705      29,442      29,684      29,413
                           

Earnings Per Share – Basic:

           

Continuing Operations

   $ .85    $ .81    $ 1.24    $ 1.82

Discontinued Operations

     .02      .05      .53      .09
                           

Earnings Per Share - Basic

   $ .87    $ .86    $ 1.77    $ 1.91
                           

Diluted

           

Weighted Average Number of Shares Outstanding

     29,705      29,442      29,684      29,413

Net Shares Assumed to be Issued for Stock Options

     124      440      163      433
                           

Weighted Average Number of Shares and Equivalent Shares Outstanding – Diluted

     29,829      29,882      29,847      29,846
                           

Earnings Per Share – Diluted:

           

Continuing Operations

   $ .85    $ .80    $ 1.23    $ 1.80

Discontinued Operations

     .01      .04      .53      .08
                           

Earnings Per Share - Diluted

   $ .86    $ .84    $ 1.76    $ 1.88