Earnings Per Share (EPS)

9 Months Ended

Oct. 02, 2011

Earnings Per Share [Abstract]

Earnings Per Share (EPS)

Note 3.  Earnings Per Share (EPS)

     Basic earnings per share are based upon the weighted average number of common shares outstanding during the period.  Diluted earnings per share are based upon the weighted average number of common shares outstanding during the period assuming the issuance of common shares for all dilutive potential common shares outstanding.

The following table sets forth the computation of basic and diluted earnings per share:

		Three Months Ended				Nine Months Ended
Basic EPS (in millions, except per share data)			Oct. 2, 2011		Oct. 3, 2010		Oct. 2, 2011		Oct. 3, 2010
	Net income attributable to MTI	$	15.7	$	16.7	$	47.9	$	51.0
Weighted average shares outstanding			17.9		18.5		18.1		18.7
	Basic earnings  per share attributable to MTI	$	0.88	$	0.90	$	2.64	$	2.73

			Three Months Ended				Nine Months Ended
Diluted EPS (in millions, except per share data)				Oct. 2, 2011		Oct. 3, 2010		Oct. 2, 2011		Oct. 3, 2010
	Net income attributable to MTI		$	15.7	$	16.7	$	47.9	$	51.0
	Weighted average shares outstanding			17.9		18.5		18.1		18.7
	Diluted effect of stock options and stock units			0.1		0.1		0.1		--
		Weighted average shares outstanding, adjusted		18.0		18.6		18.2		18.7
	Diluted earnings per share attributable to MTI		$	0.87	$	0.90	$	2.62	$	2.72

     The weighted average diluted common shares outstanding for the three-month and nine-month periods ended October 2, 2011 and October 3, 2010 excludes the dilutive effect of 603,869 options and 386,775 options, respectively, as such options had an exercise price in excess of the average market value of the Company's common stock during such periods.