<PAGE>
EXHIBIT 11
DUPONT PHOTOMASKS, INC.
EARNINGS PER SHARE COMPUTATION
(Dollars in thousands, except per share amounts)
(unaudited)
<TABLE>
<CAPTION>
Basic Diluted
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Three Months Ended
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September 30, 1999
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<S> <C> <C>
Weighted average shares outstanding............................................................. 15,364,005 15,364,005
Dilutive effect of stock performance plans...................................................... - 610,825
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15,364,005 16,003,505
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Net income...................................................................................... $ 6,577 $ 6,577
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Earnings per share.............................................................................. $ 0.43 $ 0.41
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Basic Diluted
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Three Months Ended
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September 30, 2000
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Weighted average shares outstanding............................................................. 16,899,419 16,899,419
Dilutive effect of stock performance plans...................................................... - 757,638
Dilutive effect of convertible notes............................................................ - 941,088
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16,899,419 18,598,145
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Net income...................................................................................... $ 10,698 $ 10,698
Dilutive effect of convertible notes............................................................ - 92
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Net income after dilutive effect of convertible notes........................................... $ 10,698 $ 10,790
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Earnings per share.............................................................................. $ 0.63 $ 0.58
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</TABLE>
At September 30, 1999 and 2000, we had outstanding anti-dilutive commitments
under our stock performance plans covering 96,650 and 17,950 shares,
respectively.