**EXHIBIT 11**

 

**DUPONT PHOTOMASKS, INC.**

 

**EARNINGS (LOSS) PER SHARE COMPUTATION**

 

**(Dollars inthousands, except share data)**

**(unaudited)**

** **
|                                        |   | **Basic**                           |   | **Diluted** |   |
|---------------------------------------------|--------|-------------------------------------|--------|-------------|--------|
|                                        |   | **Quarter Ended December 31, 2000** |   |
| Weighted average shares  outstanding        |   | 17,271,186                          |   | 17,271,186  |   |
| Dilutive effect of stock  performance plans |   | —                              |   | 500,551     |   |
| Dilutive effect of  convertible notes       |   | —                              |   | 941,088     |   |
|                                        |   |                                |   |        |   |
| Shares for EPS                              |   | 17,271,186                          |   | 18,712,825  |   |
|                                        |   |                                |   |        |   |
| Net income                                  |   | $                                   | 11,764 |        | $      | 11,764 |   |
| Dilutive effect of  convertible notes       |   | —                              |   | 91          |   |
| Net income for EPS                          |   | $                                   | 11,764 |        | $      | 11,855 |   |
| Earnings per share                          |   | $                                   | 0.68   |        | $      | 0.63 |   |

 
|                                        |   | **Basic**                           |   | **Diluted** |   |
|---------------------------------------------|--------|-------------------------------------|--------|-------------|--------|
|                                        |   | **Quarter Ended December 31, 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** |   |
|--------------------------------------------------------------------------------|--------|----------------------------------------------------|--------|-------------|--------|
|                                                                           |   | **Six  Months Ended  December 31, 2000** |   |
| Weighted average shares  outstanding                                           |   | 17,085,303                                         |   | 17,085,303  |   |
| Dilutive effect of stock  performance plans                                    |   | —                                             |   | 623,207     |   |
| Dilutive effect of  convertible notes                                          |   | —                                             |   | 941,088     |   |
|                                                                           |   |                                               |   |        |   |
| Shares for EPS                                                                 |   | 17,085,303                                         |   | 18,649,598  |   |
|                                                                           |   |                                               |   |        |   |
| Net income before cumulative  effect of change in accounting principle         |   | $                                                  | 22,408 |        | $      | 22,408 |   |
| Cumulative effect of change  in accounting principle                           |   | (481                                               | )      | (481        | )      |
| Net income                                                                     |   | 21,927                                             |   | 21,927      |   |
| Dilutive effect of  convertible notes                                          |   | —                                             |   | 183         |   |
| Net Income for EPS                                                             |   | $                                                  | 21,927 |        | $      | 22,110 |   |
| Earnings per share before  cumulative effect of change in accounting principle |   | $                                                  | 1.31   |        | $      | 1.21 |   |
| Earnings per share                                                             |   | $                                                  | 1.28   |        | $      | 1.19 |   |

 
|                                 |   | **Basic**                                          |   | **Diluted** |   |
|--------------------------------------|--------|----------------------------------------------------|--------|-------------|--------|
|                                 |   | **Six  Months Ended  December 31, 2001** |   |
| Weighted average shares  outstanding |   | 17,844,930                                         |   | 17,844,930  |   |
|                                 |   |                                               |   |        |   |
| Net loss                             |   | $                                                  | (2,616 | )           | $      | (2,616 | ) |
| Loss per share                       |   | $                                                  | (0.15  | )           | $      | (0.15 | ) |

 

Wehad outstanding anti-dilutive commitments under our stock performance planscovering 1,118,380 and 2,828,444 shares for the quarters ended December 31,2000 and 2001, respectively.  We hadoutstanding anti-dilutive commitments under our stock performance planscovering 733,053 and 3,710,633 shares for the six months ended December 31,2000 and 2001, respectively.