EX-11 2 a2027102zex-11.txt EXHIBIT 11 EXHIBIT 11 INTERNATIONAL MULTIFOODS CORPORATION AND SUBSIDIARIES Computation of Earnings (Loss) per Common Share (unaudited) (in thousands, except per share amounts)
THREE MONTHS ENDED SIX MONTHS ENDED -------------------- ------------------ Aug. 26, Aug. 31, Aug. 26, Aug. 31, 2000 1999 2000 1999 -------------------------------------------------------------------------------- Average shares of common stock outstanding 18,740 18,749 18,738 18,752 Dilutive potential common shares 144 99 83 95 -------------------------------------------------------------------------------- Total adjusted average shares 18,884 18,848 18,821 18,847 ================================================================================ Earnings from continuing operations $5,279 $ 5,091 $10,029 $ 9,653 Loss from discontinued operations - (11,760) - (19,560) -------------------------------------------------------------------------------- Net earnings (loss) applicable to common stock $5,279 $(6,669) $10,029 $(9,907) ================================================================================ Basic earnings (loss) per share: Continuing operations $ .28 $ .27 $ .54 $ .51 Discontinued operations - (.63) - (1.04) -------------------------------------------------------------------------------- Total $ .28 $ (.36) $ .54 $ (.53) ================================================================================ Diluted earnings (loss) per share: Continuing operations $ .28 $ .27 $ .53 $ .51 Discontinued operations - (.62) - (1.04) -------------------------------------------------------------------------------- Total $ .28 $ (.35) $ .53 $ (.53) ================================================================================
Basic earnings (loss) per share are computed by dividing net earnings (loss) by the weighted average number of shares of common stock outstanding during the period. Diluted earnings per share are computed similar to basic earnings per share except that the weighted average shares outstanding are increased to include additional shares from the assumed exercise of stock options, if dilutive. The number of additional shares is calculated by assuming that outstanding stock options were exercised and the proceeds from such exercises were used to acquire shares of common stock at the average market price during the period.