EX-11 6 a2050336zex-11.txt EXHIBIT 11 Exhibit 11 INTERNATIONAL MULTIFOODS CORPORATION AND SUBSIDIARIES Computation of Earnings (Loss) Per Common Share (dollars in thousands, except per share amounts)
Fiscal Year Ended ------------------------------------------------------------------ March 3, February 29, February 28, February 28, February 28, 2001 2000 1999 1998 1997 ---------- ----------- ----------- ----------- ----------- Average shares of common stock outstanding 18,739,064 18,751,826 18,758,621 18,385,262 17,982,348 Dilutive potential common shares 134,846 34,246 144,722 233,791 - ---------- ---------- ---------- ---------- ---------- Total adjusted average shares 18,873,910 18,786,072 18,903,343 18,619,053 17,982,348 ========== ========== ========== ========== ========== Earnings (loss) from continuing operations $21,175 $ 24,695 $ 6,832 $24,674 $(11,374) Earnings (loss) from discontinued operations - (19,560) (138,702) (4,650) 14,154 ------- -------- --------- ------- -------- Net earnings (loss) $21,175 $ 5,135 $(131,870) $20,024 $ 2,780 ======= ======== ========= ======= ======== Basic earnings (loss) per share: Continuing operations $ 1.13 $ 1.32 $ 0.36 $ 1.34 $ (0.63) Discontinued operations - (1.05) (7.39) (0.25) 0.78 ------- -------- --------- -------- -------- Total $ 1.13 $ 0.27 $ (7.03) $ 1.09 $ 0.15 ======= ======== ========= ======= ======== Diluted earnings (loss) per share: Continuing operations $ 1.12 $ 1.31 $ 0.36 $ 1.33 $ (0.63) Discontinued operations - (1.04) (7.34) (0.25) 0.78 ------- -------- --------- ------- -------- Total $ 1.12 $ 0.27 $ (6.98) $ 1.08 $ 0.15 ======= ======== ========= ======= ========
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 year. 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 that the proceeds from such exercises were used to acquire shares of common stock at the average market price during the year.