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EXHIBIT 11
GRACO INC. AND SUBSIDIARIES
COMPUTATION OF NET EARNINGS PER COMMON SHARE
(Unaudited)
Thirteen Weeks Ended Thirty-nine Weeks Ended
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Sep 29, 2000 Sep 24, 1999 Sep 29, 2000 Sep 24, 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 $18,073 $15,043 $51,379 $44,205
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Weighted average shares outstanding
for basic earnings per share 20,212 20,338 20,284 20,194
Dilutive effect of stock options computed
using the treasury stock method
and the average market price 339 678 327 629
Weighted average shares outstanding
for diluted earnings per share 20,551 21,016 20,611 20,823
Basic earnings per share $ 0.89 $ 0.74 $ 2.53 $ 2.19
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Diluted earnings per share $ 0.88 $ 0.72 $ 2.49 $ 2.12
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