<PAGE>
                                                                    EXHIBIT 99.2

                           LOWRANCE ELECTRONICS, INC.
                      WEIGHTED AVERAGE SHARES OUTSTANDING
                           YEAR-ENDING JULY 31, 2002

<Table>
<Caption>
                                      Treasury Stock   Actual Shares   Days Shares   Weighted Avg
                                        Purchased       Outstanding    Outstanding    Shares O/S
                                      --------------   -------------   -----------   ------------
<S>                                   <C>              <C>             <C>           <C>
OUTSTANDING SHARES - FIRST QUARTER
8/01/2001 - 10/31/2001                            --       3,768,796            92      3,768,796


OUTSTANDING SHARES - SECOND QUARTER
11/01/2001 - 01/31/2002                           --       3,768,796            92      3,768,796


OUTSTANDING SHARES - THIRD QUARTER
2/01/2002 - 3/13/2002                             --       3,768,796            41      1,736,187
3/14/2002 - 3/18/2002                          2,000       3,766,796             5        211,618
3/19/2002 - 3/19/2002                          1,000       3,765,796             1         42,312
3/20/2002 - 3/24/2002                          1,000       3,764,796             5        211,505
3/25/2002 - 4/30/2002                          1,000       3,763,796            37      1,564,724
                                      --------------                   -----------   ------------
                                               5,000                            89      3,766,347
                                      ==============                   ===========   ============

OUTSTANDING SHARES - FOURTH QUARTER
5/01/2002 - 7/23/2002                             --       3,763,796            84      3,436,509
7/24/2002 - 7/24/2002                          1,000       3,762,796             1         40,900
7/25/2002 - 7/25/2002                          1,000       3,761,796             1         40,889
7/26/2002 - 7/31/2002                            600       3,761,196             6        245,295
                                      --------------                   -----------   ------------
                                               2,600                            92      3,763,594
                                      ==============                   ===========   ============

OUTSTANDING SHARES - FULL YEAR

7/31/2002 Ending Balance                                   3,768,796
8/01/2001 - 3/13/2002                             --       3,768,796           225      2,323,230
3/14/2002 - 3/18/2002                          2,000       3,766,796             5         51,600
3/19/2002 - 3/19/2002                          1,000       3,765,796             1         10,317
3/20/2002 - 3/24/2002                          1,000       3,764,796             5         51,573
3/25/2002 - 7/23/2002                          1,000       3,763,796           121      1,247,724
7/24/2002 - 7/24/2002                          1,000       3,762,796             1         10,309
7/25/2002 - 7/25/2002                          1,000       3,761,796             1         10,306
7/26/2002 - 7/31/2002                            600       3,761,196             6         61,828
                                      --------------                   -----------   ------------
                                               7,600                           365      3,766,888
                                      ==============                   ===========   ============
TREASURY STOCK PURCHASED

3/14/2002                                      2,000
3/19/2002                                      1,000
3/20/2002                                      1,000
3/25/2002                                      1,000
7/24/2002                                      1,000
7/25/2002                                      1,000
7/26/2002                                        600
                                      --------------
                                               7,600
                                      ==============
</Table>