EXHIBIT 11
PARKER-HANNIFIN CORPORATION
FORM 10-Q
COMPUTATION OF EARNINGS PER COMMON SHARE
(Dollars in thousands, except per share amounts)
(Unaudited)
Three Months Ended Nine Months Ended
March 31, March 31,
1995 1994 1995 1994
Net income (loss) applicable to common shares $ 65,855 $ (19,083) $ 150,588 $ 6,836
Weighted average common shares outstanding
for the period 49,199,540 48,767,809 49,098,805 48,685,126
Increase in weighted average from dilutive
effect of exercise of stock options 349,083 242,638 354,668 236,665
Weighted average common shares, assuming
issuance of the above securities 49,548,623 49,010,447 49,453,473 48,921,791
Earnings per common share:
Primary $ 1.34 $ (.39) $ 3.07 $ .14
Fully diluted (A) $ 1.33 $ (.39) $ 3.05 $ .14
(A) This calculation is submitted in accordance with Regulation S-K Item
601(b)(11) although not required for income statement presentation
because it results in dilution of less than 3 percent.