EX-11 7 a2067381zex-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 NINE MONTHS ENDED ------------------- ------------------- Dec. 1, Nov. 25, Dec. 1, Nov. 25, 2001 2000 2001 2000 ------- -------- ------- ------- Average shares of common stock outstanding 18,862 18,740 18,813 18,739 Dilutive potential common shares - 143 228 97 ------ ------ ------ ------ Total adjusted average shares 18,862 18,883 19,041 18,836 ====== ====== ====== ====== Earnings (loss) before extraordinary item $ (99) $8,503 $4,781 $18,532 Extraordinary loss on early extinguishment of debt, net of tax of $267 (454) - (454) - ------ ------ ------ ------ Net earnings (loss) applicable to common stock $(553) $8,503 $4,327 $18,532 ====== ====== ====== ======= Basic earnings (loss) per share: Before extraordinary item $(.01) $ .45 $ .25 $ .99 Extraordinary item (.02) - (.02) - ------ ------ ------ ------ Total $(.03) $ .45 $ .23 $ .99 ====== ====== ====== ======= Diluted earnings (loss) per share: Before extraordinary item $(.01) $ .45 $ .25 $ .98 Extraordinary item (.02) - (.02) - ------ ------ ------ ------ Total $(.03) $ .45 $ .23 $ .98 ====== ====== ====== =======
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 (loss) per share are computed similar to basic earnings (loss) 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.