EARNINGS PER SHARE

12 Months Ended

Dec. 31, 2011

EARNINGS PER SHARE

EARNINGS PER SHARE

(11) EARNINGS PER SHARE

        The following table provides a reconciliation between Basic and Diluted earnings per share (EPS):

	Basic EPS		Dilutive Effect of Stock Options		Diluted EPS
2011:
Net earnings attributable to Valmont Industries, Inc.	$	228,308	$	—	$	228,308
Weighted average shares outstanding (000's)		26,329		221		26,550
Per share amount	$	8.67	$	0.07	$	8.60
2010:
Net earnings attributable to Valmont Industries, Inc.	$	94,379	$	—	$	94,379
Weighted average shares outstanding (000's)		26,100		322		26,422
Per share amount	$	3.62	$	0.05	$	3.57
2009:
Net earnings attributable to Valmont Industries, Inc.	$	150,562	$	—	$	150,562
Weighted average shares outstanding (000's)		25,951		338		26,289
Per share amount	$	5.80	$	0.07	$	5.73

        At the end of fiscal years 2011, 2010 and 2009, there were approximately 20,000, 8,000, and 255,000 options outstanding, respectively, with exercise prices exceeding the market value of common stock that were therefore excluded from the computation of diluted shares outstanding.