EX-11 2 dex11.htm COMPUTATION OF BASIC AND DILUTED EARNINGS PER SHARE Computation of Basic and Diluted Earnings per Share

EXHIBIT 11

ESTERLINE TECHNOLOGIES CORPORATION

Computation of Basic and Diluted Earnings Per Common Share

For the Three and Nine Month Periods Ended July 31, 2009 and August 1, 2008

(Unaudited)

(In thousands, except per share amounts)

 

     Three Months Ended    Nine Months Ended
     July 31,
2009
   August 1,
2008
   July 31,
2009
   August 1,
2008

Net Sales

   $     361,486    $     363,484    $     1,030,705    $     1,078,822

Gross Margin

     117,147      113,358      331,897      349,958

Net Earnings From Continuing Operations

   $ 32,478    $ 18,400    $ 69,303    $ 72,072

Net Earnings From Discontinued Operations

     163      2,082      15,994      4,579
                           

Net Earnings

   $ 32,641    $ 20,482    $ 85,297    $ 76,651
                           

Basic

           

Weighted Average Number of Shares Outstanding

     29,736      29,575      29,701      29,466
                           

Earnings Per Share – Basic:

           

Continuing Operations

   $ 1.09    $ .62    $ 2.33    $ 2.45

Discontinued Operations

     .01      .07      .54      .15
                           

Earnings Per Share – Basic

   $ 1.10    $ .69    $ 2.87    $ 2.60
                           

Diluted

           

Weighted Average Number of Shares Outstanding

     29,736      29,575      29,701      29,466

Net Shares Assumed to be Issued for Stock Options

     134      419      154      428
                           

Weighted Average Number of Shares and Equivalent Shares Outstanding – Diluted

     29,870      29,994      29,855      29,894
                           

Earnings Per Share – Diluted:

           

Continuing Operations

   $ 1.09    $ .61    $ 2.32    $ 2.41

Discontinued Operations

     .00      .07      .54      .15
                           

Earnings Per Share – Diluted

   $ 1.09    $ .68    $ 2.86    $ 2.56