MICROCHIP TECHNOLOGY INCORPORATED AND SUBSIDIARIES
EXHIBIT 11 - COMPUTATION OF NET INCOME PER SHARE
(in thousands, except per share amounts)
Three Months Ended Nine Months Ended
December 31, December 31,
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1996 1995 1996 1995
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Net income $ 14,755 $ 5,765 $ 34,567 $ 30,033
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Weighted average shares:
Common shares outstanding 51,189 50,847 51,274 50,576
Common equivalent shares
representing shares issuable
upon exercise of stock options(1) 3,405 4,272 2,927 4,231
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Total weighted average
shares - primary 54,594 55,119 54,201 54,807
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Incremental common equivalent
shares (calculated using the
higher of end of period or
average market value)(2) 297 ----- 808 75
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Total weighted average
shares - fully diluted 54,891 55,119 55,009 54,882
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Primary net income per common and
common equivalent share $ 0.27 $ 0.10 $ 0.64 $ 0.55
============ ============ ========== =========
Fully diluted net income per common
and common equivalent share $ 0.27 $ 0.10 $ 0.63 $ 0.55
============ ============ ========== =========
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1 Amount calculated using the treasury stock method and fair market values for
stock.
2 This calculation is submitted in accordance with Regulation S-K Item
601(b)(11) although not required by footnote 2 to paragraph 14 of APB Opinion
No. 15 because it results in dilution of less than 3%.
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