EX-11.1 2 exh11_1.htm EXHIBIT 11.1 COMPUTATION OF PER SHARE EARNINGS (LOSS) DILUTED Exhibit 11.1 Computation of Per Share Earnings (Loss) Diluted
Exhibit 11.1
 
 
CPI Corp.
Computation of Per Common Share Earnings (Loss) - Diluted
(Unaudited)
 
 

 

   
 16 Weeks Ended
    
  40 Weeks Ended
      
thousands, except share and per share data
  
 November 11, 2006
  
  November 12, 2005
    
  November 11, 2006
  
  November 12, 2005
      
                                     
Diluted:
                                    
Net earnings (loss) applicable to common shares
  
$
(951
)
    
$
(3,098
)
      
$
1,533
    
$
(8,173
)
      
                                             
Shares:
                                            
Weighted average number of common shares outstanding
    
16,968,819
       
18,511,008
         
16,969,919
     
18,485,993
       
                                             
Shares issuable under employee stock plans - weighted average
    
-
 
 *
    
-
   **
 
    
-
     
-
  *** 
 
  
                                             
Dilutive effect of exercise of certain stock options
    
-
   *    
-
   **
 
    
21,376
     
-
  ***
 
  
                                             
Less: Treasury stock - weighted average
    
(10,617,932
)
      
(10,639,543
)
        
(10,617,412
)
    
(10,639,543
)
      
                                             
Weighted average number of common and common equivalent shares outstanding
    
6,350,887
       
7,871,465
         
6,373,883
     
7,846,450
       
                                             
Net earnings (loss) per common and common equivalent shares
  
$
(0.15
)
    
$
(0.39
)
      
$
0.24
    
$
(1.04
)
      
                                             
 
 


*
The effect of stock options in the amount of 23,411 shares were not considered as the effect is antidilutive.
            
                                   
**
The effect of stock options in the amount of 20,111 were not considered as the effect is antidilutive.
            
   
***
The effect of stock options in the amount of 17,255 shares and 10,202 shares issuable under employee stock plans were not considered as the effect is antidilutive.