EX-11 6 exhibit11.htm EXHBIT 11 - COMP. OF EARNINGS PER COMMON SHARE

EXHIBIT 11

GRACO INC. AND SUBSIDIARIES

COMPUTATION OF NET EARNINGS PER COMMON SHARE

(Unaudited)

               Thirteen Weeks Ended            
  March 28, 2003 March 29, 2002 
   (in thousands except per share amounts)
     
Net earnings applicable to common shareholders    
    for basic and diluted earnings per share $18,194  $15,546 
     
Weighted average shares outstanding for basic
    earnings per share 47,233  46,959 
     
Dilutive effect of stock options computed using the
    treasury stock method and the average market price 666  921 
     
Weighted average shares outstanding for diluted
    earnings per share 47,899  47,880 
     
Basic earnings per share $    0.39  $    0.33 
     
Diluted earnings per share $    0.38  $    0.32