EX-11 2 a2029821zex-11.txt EXHIBIT 11 EXHIBIT 11 ALBANY INTERNATIONAL CORP. EXHIBIT 11 SCHEDULE OF COMPUTATION OF NET INCOME PER SHARE AND DILUTED NET INCOME PER SHARE (in thousands, except per share data)
For the three months For the nine months ended September 30, ended September 30, 2000 (1) 1999 (1) 2000 (1) 1999 (1) ========== =========== ========== =========== Net income $9,343 $10,667 $28,754 $31,172 ========== =========== ========== =========== Weighted average number of shares 30,670,923 30,371,567 30,591,980 30,310,058 Effect of potentially dilutive securities: Stock options (2) -- 75,190 -- 201,856 ---------- ----------- ---------- ----------- Weighted average number shares, including the effect of potentially dilutive securities 30,670,923 30,446,757 30,591,980 30,511,914 ========== =========== ========== =========== Net income per share $0.30 $0.35 $0.94 $1.03 ========== =========== ========== =========== Diluted net income per share $0.30 $0.35 $0.94 $1.02 ========== =========== ========== =========== Calculation of Weighted Average Number of Shares: Days Shares ----------------------------- Activity Outstanding (1) Year to Date Quarter ------------------------------------------------------------------------------------- 1999 Beginning balance 30,220,223 30 ESOP shares - 13,772 30,234,271 28 ESOP shares - 15,530 30,250,111 31 ESOP shares - 49,234 30,300,330 20 Options - 2,400 shares 30,302,778 10 ESOP shares - 13,350 30,316,395 6 Stock dividend adjust. - 1,592 30,318,019 4 Directors shares - 2,884 30,320,961 2 Options - 1,550 shares 30,322,542 1 Options - 1,400 shares 30,323,970 4 Options - 1,000 shares 30,324,990 4 Options - 400 shares 30,325,398 10 ESOP shares - 12,335 30,337,979 14 Options - 1,800 shares 30,339,815 16 ESOP shares - 13,827 30,353,919 31 30 ESOP shares - 16,877 30,371,133 31 31 ESOP shares - 16,925 30,388,397 30 30 ESOP shares - 20,754 30,409,566 1 1 Totals 2000 Beginning balance 30,467,186 30 ESOP shares - 21,786 30,488,972 29 ESOP shares - 62,201 30,551,173 31 ESOP shares - 23,912 30,575,085 30 ESOP shares - 21,038 30,596,123 5 Directors shares - 4,760 30,600,883 26 ESOP shares - 22,177 30,623,060 30 ESOP shares - 24,526 30,647,586 31 30 ESOP shares - 21,671 30,669,257 31 31 ESOP shares - 25,069 30,694,326 30 30 ESOP shares - 26,258 30,720,584 1 1 Totals 274 Weighted Average Shares ------------------------------------------------------------------------ For the three months For the nine months Shares ended September 30, ended September 30, Activity Outstanding (1) 2000 1999 2000 1999 ------------------------------------------------------- ------------- ----------------- ---------------- ------------ 1999 Beginning balance 30,220,223 3,320,904 ESOP shares - 13,772 30,234,271 3,100,951 ESOP shares - 15,530 30,250,111 3,434,994 ESOP shares - 49,234 30,300,330 2,219,804 Options - 2,400 shares 30,302,778 1,109,992 ESOP shares - 13,350 30,316,395 666,294 Stock dividend adjust. - 1,592 30,318,019 444,220 Directors shares - 2,884 30,320,961 222,132 Options - 1,550 shares 30,322,542 111,072 Options - 1,400 shares 30,323,970 444,307 Options - 1,000 shares 30,324,990 444,322 Options - 400 shares 30,325,398 1,110,820 ESOP shares - 12,335 30,337,979 1,555,794 Options - 1,800 shares 30,339,815 1,778,158 ESOP shares - 13,827 30,353,919 9,898,017 3,446,782 ESOP shares - 16,877 30,371,133 10,233,751 3,448,737 ESOP shares - 16,925 30,388,397 9,909,260 3,339,384 ESOP shares - 20,754 30,409,566 330,539 111,390 ----------------- ------------ Totals 30,371,567 30,310,058 ================= ============ 2000 Beginning balance 30,467,186 3,335,823 ESOP shares - 21,786 30,488,972 3,226,935 ESOP shares - 62,201 30,551,173 3,456,520 ESOP shares - 23,912 30,575,085 3,347,637 ESOP shares - 21,038 30,596,123 558,323 Directors shares - 4,760 30,600,883 2,903,733 ESOP shares - 22,177 30,623,060 3,352,890 ESOP shares - 24,526 30,647,586 9,993,778 3,467,428 ESOP shares - 21,671 30,669,257 10,334,206 3,469,879 ESOP shares - 25,069 30,694,326 10,009,019 3,360,693 ESOP shares - 26,258 30,720,584 333,919 112,119 ------------- ---------------- Totals 30,670,923 30,591,980 ============= ================
(1) Includes Class A and Class B Common Stock (2) Incremental shares of unexercised options are calculated based on the average price of the Company's stock for the respective period. The calculation includes all options that are dilutive to earnings per share.