**EXHIBIT 11**

** **

**DUPONT PHOTOMASKS, INC.**

**EARNINGS PER SHARE COMPUTATION**

**(Dollars in thousands, except sharedata)**

**(unaudited)**

** **
|                                                                           |   | **Quarter Ended March 31, 2001**           |       |
|--------------------------------------------------------------------------------|--------|--------------------------------------------|------------|
|                                                                           |   | **Basic**                                  |       | **Diluted** |   |
|                                                                           |   |                                       |       |   |   |
| Weighted average shares  outstanding                                           |   | 17,597,060                                 |       | 17,597,060 |   |
| Dilutive effect of stock  performance plans                                    |   | —                                     |       | 588,545 |   |
| Dilutive effect of  convertible notes                                          |   | —                                     |       | 941,088 |   |
| Shares for EPS                                                                 |   | 17,597,060                                 |       | 19,126,693 |   |
| Net income                                                                     |   | $                                          | 9,039      |   | $ | 9,039 |   |
| Dilutive effect of  convertible notes                                          |   | —                                     |       | 92 |   |
| Net income for EPS                                                             |   | $                                          | 9,039      |   | $ | 9,131 |   |
| Earnings per share                                                             |   | $                                          | 0.51       |   | $ | 0.48 |   |
|                                                                           |   |                                       |       |   |   |
|                                                                           |   | **Quarter  Ended March 31, 2002**          |       |
|                                                                           |   | **Basic**                                  | ** ** | **Diluted** | ** ** |
|                                                                           |   |                                       |       |   |   |
| Weighted average shares  outstanding                                           |   | 17,893,028                                 |       | 17,893,028 |   |
| Dilutive effect of stock  performance plans                                    |   | —                                     |       | 368,949 |   |
| Dilutive effect of  convertible notes                                          |   | —                                     |       | 941,088 |   |
| Shares for EPS                                                                 |   | 17,893,028                                 |       | 19,203,065 |   |
| Net income                                                                     |   | $                                          | 4,905      |   | $ | 4,905 |   |
| Dilutive effect of  convertible notes                                          |   | —                                     |       | 92 |   |
| Net income for EPS                                                             |   | $                                          | 4,905      |   | $ | 4,997 |   |
| Earnings per share                                                             |   | $                                          | 0.27       |   | $ | 0.26 |   |
|                                                                           |   |                                       |       |   |   |
|                                                                           |   | **Nine  Months Ended March 31, 2001** |       |
|                                                                           |   | **Basic**                                  | ** ** | **Diluted** | ** ** |
|                                                                           |   |                                       |       |   |   |
| Weighted average shares  outstanding                                           |   | 17,255,888                                 |       | 17,255,888 |   |
| Dilutive effect of stock  performance plans                                    |   | —                                     |       | 616,312 |   |
| Dilutive effect of  convertible notes                                          |   | —                                     |       | 941,088 |   |
| Shares for EPS                                                                 |   | 17,255,888                                 |       | 18,813,288 |   |
| Net income before cumulative  effect of change in accounting principle         |   | $                                          | 31,477     |   | $ | 31,477 |   |
| Cumulative effect of change  in accounting principle                           |   | (481                                       | )          | (481 | ) |
| Net income                                                                     |   | $                                          | 30,966     |   | $ | 30,966 |   |
| Dilutive effect of convertible  notes                                          |   | —                                     |       | 275 |   |
| Net Income for EPS                                                             |   | $                                          | 30,966     |   | $ | 31,241 |   |
| Earnings per share before  cumulative effect of change in accounting principle |   | $                                          | 1.82       |   | $ | 1.69 |   |
| Earnings per share                                                             |   | $                                          | 1.79       |   | $ | 1.66 |   |
|                                                                           |   |                                       |       |   |   |
|                                                                           |   | **Nine  Months Ended March 31, 2002** |       |
|                                                                           |   | **Basic**                                  | ** ** | **Diluted** | ** ** |
|                                                                           |   |                                       |       |   |   |
| Weighted average shares  outstanding                                           |   | 17,860,729                                 |       | 17,860,729 |   |
| Dilutive effect of stock  performance plans                                    |   | —                                     |       | 242,302 |   |
| Shares for EPS                                                                 |   | 17,860,729                                 |       | 18,103,031 |   |
|                                                                           |   |                                       | ** ** |   | ** ** |
| Net Income for EPS                                                             |   | $                                          | 2,289      |   | $ | 2,289 |   |
|                                                                           |   |                                       |       |   |   |
| Earnings per share                                                             |   | $                                          | 0.13       |   | $ | 0.13 |   |

 

We had outstanding anti-dilutive commitmentsunder our stock performance plans covering 35,850 and 1,189,221 shares for thequarters ended March 31, 2001 and 2002, respectively.  We had outstanding anti-dilutive commitments under our stockperformance plans covering 49,775 and 2,049,062 shares for the nine monthsended March 31, 2001 and 2002, respectively.

 

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