BOWLES FLUIDICS CORPORATION - EXHIBIT 11
CALCULATION OF EARNINGS PER SHARE
A. PRIMARY EARNINGS PER COMMON SHARE AND COMMON EQUIVALENT SHARES
For the Fiscal Year Ended
-----------------------------------------
October 26, October 28, October 29,
1996 1995 1994
----------- ----------- -----------
Calculation of net income:
Net income per books $ 884,306 $ 1,783,875 $ 1,727,020
Less:Dividends on
convertible
preferred stock 74,646 74,648 74,646
----------- ----------- -----------
Net income
as adjusted $ 809,660 $ 1,709,227 $ 1,652,374
=========== =========== ===========
Calculation of outstanding shares:
Weighted average of common
shares outstanding 12,610,011 12,593,353 12,581,647
Add: Assumed exercise of
stock options 91,887 113,055 91,000
----------- ----------- -----------
Number of common shares
outstanding adjusted 12,701,898 12,706,408 12,672,647
=========== =========== ===========
Primary earnings
per common share $ .06 $ .13 $ .13
=========== =========== ===========
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BOWLES FLUIDICS CORPORATION - EXHIBIT 11
CALCULATION OF EARNINGS PER SHARE (continued)
B. FULLY DILUTED EARNINGS PER SHARE:
For the Fiscal Year Ended
-----------------------------------------
October 26, October 28, October 29,
1996 1995 1994
----------- ----------- -----------
Net income per books $ 884,306 $ 1,783,875 $ 1,727,020
=========== =========== ===========
Weighted average of
common shares
outstanding 12,610,011 12,593,353 12,581,647
Add:Assumed conversion of
of preferred stock 3,732,320 3,732,320 3,732,320
Assumed exercise of
stock options 131,059 119,332 91,000
----------- ----------- -----------
Number of common shares
outstanding adjusted 16,473,390 16,445,005 16,404,967
=========== ========== ==========
Fully diluted earnings
per common share and
common stock equivalents $ .05 $ .11 $ .11
=========== ========== ==========
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SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange
Act of 1934, the Registrant has duly caused this report to be signed on its
behalf by the undersigned, thereunto duly authorized.
BOWLES FLUIDICS CORPORATION
BY:
Chairman of
the Board and
- -------------------------- Director ---------------
William Ewing III Date
President and
- -------------------------- Director ---------------
Ronald D. Stouffer Date
Vice President
- -------------------------- Finance ---------------
David A. Quinn Date
Corporate Controller
- -------------------------- ---------------
Arlene M. Hardy Date
Director
- -------------------------- ---------------
David C. Dressler Date
Director
- -------------------------- ---------------
John E. Searle, Jr. Date
34