<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>
OUTSTANDING SHARES - FIRST  QUARTER
8/01/2001                       -             3,768,796                92        3,768,796

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

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

OUTSTANDING SHARES - FOURTH QUARTER
5/01/2002                       -             3,763,796                84        3,436,509
7/24/2002                   1,000             3,762,796                 1           40,900
7/25/2002                   1,000             3,761,796                 1           40,889
7/26/2002                     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                       -             3,768,796               225        2,323,230
3/14/2002                   2,000             3,766,796                 5           51,600
3/19/2002                   1,000             3,765,796                 1           10,317
3/20/2002                   1,000             3,764,796                 5           51,573
3/25/2002                   1,000             3,763,796               121        1,247,724
7/24/2002                   1,000             3,762,796                 1           10,309
7/25/2002                   1,000             3,761,796                 1           10,306
7/26/2002                   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>