EX-11 3 est3-x11.htm EXHIBIT 11

EXHIBIT 11

ESTERLINE TECHNOLOGIES CORPORATION
Computation of Basic and Diluted Earnings Per Common Share
For the Three and Nine Months Ended July 26, 2002 and July 27, 2001
(Unaudited)
(In thousands, except per share amounts)

 

 Three Months Ended 

   Nine Months Ended    
 

July 26,
    2002    

July 27,
    2001    

July 26,
    2002    

July 27,
    2001    

Basic

        

Income From Continuing Operations
Discontinued Operations, Net of Tax

$   6,926 
  (17,529)

$ 12,284 
    (3,055)

$ 20,779 
  (22,114)

$ 32,028 
    (6,553)

Earnings (Loss) Before Cumulative
   Effect of Change in
   Accounting Principle



  (10,603)



     9,229 



    (1,335)



   25,475 

Cumulative Effect of Change in
   Accounting Principle, Net of Tax


            - 


            - 


    (7,574)


       (403)

Net Earnings (Loss)

$(10,603)

$   9,229 

$  (8,909)

$ 25,072 

Weighted Average Number of
   Shares Outstanding - Basic


   20,764 


   20,682 


   20,742 


   19,285 

Earnings (Loss) Per Share - Basic:
   Continuing operations
   Discontinued operations
   Earnings (loss) per share before
      cumulative effect of change
      in accounting principle
   Cumulative effect of change
      in accounting principle


$       .33 
        (.84)


        (.51)

            - 


$       .59 
        (.14)


         .45 

            - 


$     1.00 
      (1.06)


        (.06)

        (.37)


$     1.66 
        (.34)


       1.32 

        (.02)

Earnings (Loss) Per Share - Basic

$      (.51)

$       .45 

$      (.43)

$     1.30 
         

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ESTERLINE TECHNOLOGIES CORPORATION
Computation of Basic and Diluted Earnings Per Common Share
For the Three and Nine Months Ended July 26, 2002 and July 27, 2001
(Unaudited)
(In thousands, except per share amounts)

 

 Three Months Ended 

   Nine Months Ended    
 

July 26,
    2002    

July 27,
    2001    

July 26,
    2002    

July 27,
    2001    

Diluted

        

Income From Continuing Operations
Discontinued Operations, Net of Tax

$   6,926 
  (17,529)

$ 12,284 
    (3,055)

$ 20,779 
  (22,114)

$ 32,028 
    (6,553)

Earnings (Loss) Before Cumulative
   Effect of Change in
   Accounting Principle



  (10,603)



     9,229 



    (1,335)



   25,475 

Cumulative Effect of Change in
   Accounting Principle, Net of Tax


            - 


            - 


    (7,574)


       (403)

Net Earnings (Loss)

$(10,603)

$   9,229 

$  (8,909)

$ 25,072 

Weighted Average Number of
   Shares Outstanding


   20,764 


   20,682 


   20,742 


   19,285 

Net Shares Assumed to be Issued for
   Stock Options1


            - 


        381 


            - 


        411 

Weighted Average Number of
   Shares and Equivalent
   Shares Outstanding - Diluted



   20,764 



   21,063 



   20,742 



   19,696 

Earnings (Loss) Per Share - Diluted:
   Continuing operations
   Discontinued operations
   Earnings (loss) per share before
      cumulative effect of change
      in accounting principle
   Cumulative effect of change
      in accounting principle


$       .33 
        (.84)


        (.51)

            - 


$       .58 
        (.14)


         .44 

            - 


$     1.00 
      (1.06)


        (.06)

        (.37)


$     1.62 
        (.33)


       1.29 

        (.02)

Earnings (Loss) Per Share - Diluted

$      (.51)

$       .44 

$      (.43)

$     1.27 

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1

For fiscal 2002, the weighted average number of common shares outstanding was not increased for net shares to be issued for stock options due to the anti-dilutive effect.

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