EX-11 2 esl-ex11_36.htm EX-11 esl-ex11_36.htm

EXHIBIT 11

 

 

ESTERLINE TECHNOLOGIES CORPORATION

Computation of Basic and Diluted Earnings Per Common Share

For the Three and Nine Month Periods Ended July 31, 2015 and August 1, 2014

(Unaudited)

(In thousands, except per share amounts)

 

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

July 31,

 

 

August 1,

 

 

July 31,

 

 

August 1,

 

 

 

2015

 

 

2014

 

 

2015

 

 

2014

 

Net Sales

 

$

496,217

 

 

$

506,309

 

 

$

1,442,641

 

 

$

1,503,110

 

Gross Margin

 

 

169,796

 

 

 

177,087

 

 

 

478,797

 

 

 

527,047

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Earnings from Continuing Operations Attributable

   to Esterline, Net of Tax

 

 

30,190

 

 

 

39,837

 

 

 

76,880

 

 

 

114,375

 

Loss from Discontinued Operations Attributable to

   Esterline, Net of Tax

 

 

(1,693

)

 

 

(929

)

 

 

(20,254

)

 

 

(8,485

)

Net Earnings Attributable to Esterline

 

$

28,497

 

 

$

38,908

 

 

$

56,626

 

 

$

105,890

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted Average Number of Shares Outstanding

 

 

30,397

 

 

 

31,995

 

 

 

31,003

 

 

 

31,818

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

Continuing Operations

 

$

1.00

 

 

$

1.25

 

 

$

2.48

 

 

$

3.60

 

Discontinued Operations

 

 

(0.06

)

 

 

(0.03

)

 

 

(0.65

)

 

 

(0.27

)

Earnings (Loss) Per Share Attributable to

   Esterline - Basic

 

$

0.94

 

 

$

1.22

 

 

$

1.83

 

 

$

3.33

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted Average Number of Shares Outstanding

 

 

30,397

 

 

 

31,995

 

 

 

31,003

 

 

 

31,818

 

Net Shares Assumed to be Issued for Stock Options

   and RSUs

 

 

517

 

 

 

596

 

 

 

528

 

 

 

609

 

Weighted Average Number of Shares and

   Equivalent Shares Outstanding - Diluted

 

 

30,914

 

 

 

32,591

 

 

 

31,531

 

 

 

32,427

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

Continuing Operations

 

$

0.97

 

 

$

1.22

 

 

$

2.44

 

 

$

3.53

 

Discontinued Operations

 

 

(0.05

)

 

 

(0.03

)

 

 

(0.64

)

 

 

(0.26

)

Earnings (Loss) Per Share Attributable to

   Esterline - Diluted

 

$

0.92

 

 

$

1.19

 

 

$

1.80

 

 

$

3.27