EX-11 6 esl-ex11_2015050110.htm EX-11 esl-ex11_2015050110.htm

 

EXHIBIT 11

 

 

ESTERLINE TECHNOLOGIES CORPORATION

Computation of Basic and Diluted Earnings Per Common Share

For the Three and Six Month Periods Ended May 1, 2015 and May 2, 2014

(Unaudited)

(In thousands, except per share amounts)

 

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

May 1,

 

 

May 2,

 

 

May 1,

 

 

May 2,

 

 

 

2015

 

 

2014

 

 

2015

 

 

2014

 

Net Sales

 

$

500,080

 

 

$

510,861

 

 

$

946,424

 

 

$

996,801

 

Gross Margin

 

 

163,651

 

 

 

179,225

 

 

 

309,001

 

 

 

349,960

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Earnings from Continuing Operations Attributable

   to Esterline, Net of Tax

 

 

21,632

 

 

 

40,595

 

 

 

46,690

 

 

 

74,538

 

Loss from Discontinued Operations Attributable to

   Esterline, Net of Tax

 

 

(1,822

)

 

 

(3,691

)

 

 

(18,561

)

 

 

(7,556

)

Net Earnings Attributable to Esterline

 

$

19,810

 

 

$

36,904

 

 

$

28,129

 

 

$

66,982

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted Average Number of Shares Outstanding

 

 

31,005

 

 

 

31,867

 

 

 

31,306

 

 

 

31,733

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

Continuing Operations

 

$

0.70

 

 

$

1.28

 

 

$

1.49

 

 

$

2.35

 

Discontinued Operations

 

 

(0.06

)

 

 

(0.12

)

 

 

(0.59

)

 

 

(0.24

)

Earnings (Loss) Per Share Attributable to

   Esterline - Basic

 

$

0.64

 

 

$

1.16

 

 

$

0.90

 

 

$

2.11

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted Average Number of Shares Outstanding

 

 

31,005

 

 

 

31,867

 

 

 

31,306

 

 

 

31,733

 

Net Shares Assumed to be Issued for Stock Options

   and RSUs

 

 

520

 

 

 

608

 

 

 

533

 

 

 

615

 

Weighted Average Number of Shares and

   Equivalent Shares Outstanding - Diluted

 

 

31,525

 

 

 

32,475

 

 

 

31,839

 

 

 

32,348

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

Continuing Operations

 

$

0.69

 

 

$

1.25

 

 

$

1.46

 

 

$

2.30

 

Discontinued Operations

 

 

(0.06

)

 

 

(0.11

)

 

 

(0.58

)

 

 

(0.23

)

Earnings (Loss) Per Share Attributable to

   Esterline - Diluted

 

$

0.63

 

 

$

1.14

 

 

$

0.88

 

 

$

2.07