Prepared by MERRILL CORPORATION

EX-11 3 a2058204zex-11.htm EXHIBIT 11 Prepared by MERRILL CORPORATION
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Exhibit 11

CASCADE CORPORATION

COMPUTATION OF EARNINGS PER SHARE

(Unaudited—in thousands except per share data)

	Three Months Ended July 31
	2001					2000
	Income (Numerator)		Shares (Denominator)	Per Share Amount		Income (Numerator)			Shares (Denominator)	Per Share Amount
Net income	$	4,143				$	4,604
Less: preferred stock dividend		—					(80	)

BASIC EPS
Income available to common shareholders		4,143	11,440	$	0.36		4,524		11,312	$	0.40

Effect of dilutive securities			3						23
Mandatorily redeemable convertible preferred stock		—	800				80		800

DILUTED EPS
Income available to common shareholder plus assumed conversions	$	4,143	12,243	$	0.34	$	4,604		12,135	$	0.38

	Six Months Ended July 31
	2001					2000
	Income (Numerator)		Shares (Denominator)	Per Share Amount		Income (Numerator)			Shares (Denominator)	Per Share Amount
Net income	$	9,068				$	9,775
Less: preferred stock dividend		—					(160	)

BASIC EPS
Income available to common shareholders		9,068	11,440	$	0.79		9,615		11,312	$	0.85

Effect of dilutive securities			59						2
Mandatorily redeemable convertible preferred stock		—	800				160		800

DILUTED EPS
Income available to common shareholder plus assumed conversions	$	9,068	12,299	$	0.74	$	9,775		12,114	$	0.81