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, _________________________ _________________________ 1996 1995 (A) 1996 1995 (A) ___________ ___________ ___________ ___________ Net income applicable to common shares $ 69,128 $ 65,855 $ 174,899 $ 150,588 =========== =========== =========== =========== Weighted average common shares outstanding for the period 74,188,578 73,799,310 74,139,081 73,648,208 Increase in weighted average from dilutive effect of exercise of stock options 512,212 523,625 604,061 532,002 ___________ ___________ ___________ ___________ Weighted average common shares, assuming issuance of the above securities 74,700,790 74,322,935 74,743,142 74,180,210 =========== =========== =========== =========== Earnings per common share: Primary $ .93 $ .89 $ 2.36 $ 2.04 Fully diluted (B) $ .93 $ .89 $ 2.34 $ 2.03 (A) Weighted average shares and earnings per share have been restated for the 3-shares-for-2 common stock split paid June 2, 1995. (B) 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.
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