**EXHIBIT 11**

 

**DUPONT PHOTOMASKS, INC.**

 

**EARNINGS (LOSS) PER SHARE COMPUTATION**

 

**(Dollars in thousands, except share data)**

**(unaudited)**

** **

|                                        |   | **Basic**                                 |    | **Diluted** |   |
|---------------------------------------------|--------|-------------------------------------------|---------|-------------|--------|
|                                        |   | **Three Months Ended  December 30, 2001** |    |
| Weighted  average shares outstanding        |   | 17,854,578                                |    | 17,854,578  |   |
| Dilutive effect  of stock performance plans |   | —                                    |    | 200,760     |   |
| Shares for EPS                              |   | 17,854,578                                |    | 18,055,338  |   |
| Net income                                  |   | $                                         | 367     |        | $      | 367 |   |
| Earnings per  share                         |   | $                                         | 0.02    |        | $      | 0.02 |   |
|                                        |   |                                      |    |        |   |
|                                        |   | **Basic**                                 |    | **Diluted** |   |
|                                        |   | **Three Months Ended  December 30, 2002** |    |
| Weighted  average shares outstanding        |   | 17,993,994                                |    | 17,993,994  |   |
| Net loss                                    |   | $                                         | (23,017 | )           | $      | (23,017 | ) |
| Loss per share                              |   | $                                         | (1.28   | )           | $      | (1.28 | ) |
|                                        |   |                                      |    |        |   |
|                                        |   | **Basic**                                 |    | **Diluted** |   |
|                                        |   | **Six Months Ended  December 30, 2001**   |    |
| Weighted  average shares outstanding        |   | 17,844,930                                |    | 17,844,930  |   |
| Net loss                                    |   | $                                         | (2,616  | )           | $      | (2,616 | ) |
| Loss per share                              |   | $                                         | (0.15   | )           | $      | (0.15 | ) |
|                                        |   |                                      |    |        |   |
|                                        |   | **Basic**                                 |    | **Diluted** |   |
|                                        |   | **Six Months Ended  December 30, 2002**   |    |
| Weighted  average shares outstanding        |   | 17,982,365                                |    | 17,982,365  |   |
| Net loss                                    |   | $                                         | (28,512 | )           | $      | (28,512 | ) |
| Loss per share                              |   | $                                         | (1.59   | )           | $      | (1.59 | ) |

 

We had outstanding anti-dilutive commitmentsunder our stock performance plans covering 2,828,444 and 4,392,116 shares forthe three months ended December 30, 2001 and 2002, respectively. We hadoutstanding anti–dilutive commitments under our stock performance planscovering 3,710,633 and 4,392,116 shares for the six months ended December 30,2001 and 2002, respectively. For the three months and six monthsended December 30, 2001 and 2002, 941,088 shares for the effect of theconvertible notes were not included in the computations of diluted EPS becausethe effect of including the convertible notes would have been anti-dilutive.

 

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