EX-11 3 esl-ex11_201408016.htm EX-11

 

EXHIBIT 11

ESTERLINE TECHNOLOGIES CORPORATION

Computation of Basic and Diluted Earnings Per Common Share

For the Three and Nine Month Periods Ended August 1, 2014 and July 26, 2013

(Unaudited)

(In thousands, except per share amounts)

 

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

August 1,

 

 

July 26,

 

 

August 1,

 

 

July 26,

 

 

 

2014

 

 

2013

 

 

2014

 

 

2013

 

Net Sales

 

$

531,124

 

 

$

478,068

 

 

$

1,565,678

 

 

$

1,435,592

 

Gross Margin

 

 

182,473

 

 

 

178,902

 

 

 

538,113

 

 

 

520,623

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Earnings from Continuing Operations

      Attributable to Esterline

 

 

38,908

 

 

 

39,213

 

 

 

106,233

 

 

 

99,846

 

Loss from Discontinued Operations Attributable

      to Esterline, Net of Tax

 

 

-

 

 

 

(975

)

 

 

(343

)

 

 

(975

)

Net Earnings Attributable to Esterline

 

$

38,908

 

 

$

38,238

 

 

$

105,890

 

 

$

98,871

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted Average Number of Shares

      Outstanding

 

 

31,995

 

 

 

31,297

 

 

 

31,818

 

 

 

31,100

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings (Loss) Per Share Attributable to Esterline - Basic:

 

 

 

 

 

 

 

 

 

 

 

 

 

Continuing Operations

 

$

1.22

 

 

$

1.25

 

 

$

3.34

 

 

$

3.21

 

Discontinued Operations

 

 

-

 

 

 

(0.03

)

 

 

(0.01

)

 

 

(0.03

)

Earnings (Loss) Per Share Attributable

      to Esterline - Basic:

 

$

1.22

 

 

$

1.22

 

 

$

3.33

 

 

$

3.18

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted Average Number of Shares

      Outstanding

 

 

31,995

 

 

 

31,297

 

 

 

31,818

 

 

 

31,100

 

Net Shares Assumed to be Issued for Stock

      Options and RSUs

 

 

596

 

 

 

573

 

 

 

609

 

 

 

563

 

Weighted Average Number of Shares and

      Equivalent Shares Outstanding - Diluted

 

 

32,591

 

 

 

31,870

 

 

 

32,427

 

 

 

31,663

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings (Loss) Per Share Attributable to Esterline - Diluted:

 

 

 

 

 

 

 

 

 

 

 

 

 

Continuing Operations

 

$

1.19

 

 

$

1.23

 

 

$

3.28

 

 

$

3.15

 

Discontinued Operations

 

 

-

 

 

 

(0.03

)

 

 

(0.01

)

 

 

(0.03

)

Earnings (Loss) Per Share Attributable

      to Esterline - Diluted:

 

$

1.19

 

 

$

1.20

 

 

$

3.27

 

 

$

3.12