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EXHIBIT 11
GRACO INC. AND SUBSIDIARIES
COMPUTATION OF NET EARNINGS PER COMMON SHARE
(Unaudited)
Thirteen Weeks Ended Twenty-six Weeks Ended
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June 30, 2000 June 25, 1999 June 30, 2000 June 25, 1999
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(in thousands except per share amounts)
<S> <C> <C> <C> <C>
Net earnings applicable to common
shareholders for basic and
diluted earnings per share $18,331 $17,961 $33,306 $29,162
Weighted average shares outstanding
for basic earnings per share 20,246 20,139 20,320 20,122
Dilutive effect of stock options
computed using the treasury
stock method and the average
market price 324 708 321 605
Weighted average shares outstanding
for diluted earnings per share 20,570 20,847 20,641 20,727
Basic earnings per share $ 0.91 $ 0.89 $ 1.64 $ 1.45
Diluted earnings per share $ 0.89 $ 0.86 $ 1.61 $ 1.41
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