EARNINGS PER SHARE

3 Months Ended

Mar. 31, 2012

EARNINGS PER SHARE

EARNINGS PER SHARE

4. 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
Thirteen weeks ended March 31, 2012:
Net earnings attributable to Valmont Industries, Inc.	$	52,325	$	—		$	52,325
Shares outstanding		26,396		282			26,678
Per share amount	$	1.98	$	(0.02	)	$	1.96
Thirteen weeks ended March 26, 2011:
Net earnings attributable to Valmont Industries, Inc.	$	25,609	$	—		$	25,609
Shares outstanding		26,271		266			26,537
Per share amount	$	0.98	$	(0.01	)	$	0.97

        At March 31, 2012, there were no outstanding stock options with exercise prices exceeding the market price of common stock. At March 26, 2011 there were 8,962 of outstanding stock options with exercise prices exceeding the market price of common stock that were excluded from the computation of diluted earnings per share for the thirteen weeks ended March 26, 2011.