EX-11 2 ex11.txt Exhibit 11 ENGINEERED SUPPORT SYSTEMS, INC. STATEMENT RE: COMPUTATION OF EARNINGS PER SHARE (in thousands, except per share amounts)
Three Months Ended Six Months Ended April 30 April 30 --------------------- --------------------- 2004 2003 2004 2003 ---- ---- ---- ---- NET INCOME: Continuing operations $18,323 $ 8,479 $34,066 $16,920 Discontinued operations 157 294 ------- ------- ------- ------- Total $18,323 $ 8,636 $34,066 $17,214 ======= ======= ======= ======= BASIC EARNINGS PER SHARE: Average basic shares outstanding 25,922 24,117 25,489 23,993 ======= ======= ======= ======= Continuing operations $ 0.71 $ 0.35 $ 1.34 $ 0.71 Discontinued operations 0.01 0.01 ------- ------- ------- ------- Total $ 0.71 $ 0.36 $ 1.34 $ 0.72 ======= ======= ======= ======= DILUTED EARNINGS PER SHARE: Average basic shares outstanding 25,922 24,117 25,489 23,993 Net effect of dilutive stock options (1) 1,936 1,398 2,215 1,396 ------- ------- ------- ------- Total 27,858 25,515 27,704 25,389 ======= ======= ======= ======= Continuing operations $ 0.66 $ 0.33 $ 1.23 $ 0.67 Discontinued operations 0.01 0.01 ------- ------- ------- ------- Total $ 0.66 $ 0.34 $ 1.23 $ 0.68 ======= ======= ======= ======= (1) Based on the treasury stock method.