EX-11 6 a2080526zex-11.htm EXHIBIT 11
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Exhibit 11


INTERNATIONAL MULTIFOODS CORPORATION AND SUBSIDIARIES

Computation of Earnings (Loss) Per Common Share

(dollars in thousands, except per share amounts)

 
   Years Ended
  
 
   March 2,
2002
   March 3,
2001
   February 29,
2000
   February 28,
1999
   February 28,
1998
  
Average shares of common stock outstanding     18,850,940     18,739,064     18,751,826     18,758,621     18,385,262  
Dilutive potential common shares     244,648     134,846     34,246     144,722     233,791  
   
 
 
 
 
 
Total adjusted average shares     19,095,588     18,873,910     18,786,072     18,903,343     18,619,053  
   
 
 
 
 
 
Earnings from continuing operations   $ 9,645   $ 21,175   $ 24,695   $ 6,832   $ 24,674  
Loss from discontinued operations     —     —     (19,560 )   (138,702 )   (4,650 )
   
 
 
 
 
 
Earnings (loss) before extraordinary item     9,645     21,175     5,135     (131,870 )   20,024  
Extraordinary loss on early extinguishment of debt, net of tax     (454 )   —     —     —     —  
   
 
 
 
 
 
Net earnings (loss) applicable to common stock   $ 9,191   $ 21,175   $ 5,135   $ (131,870 ) $ 20,024  
   
 
 
 
 
 

Basic earnings (loss) per share:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  Continuing operations   $ 0.51   $ 1.13   $ 1.32   $ 0.36   $ 1.34  
  Discontinued operations     —     —     (1.05 )   (7.39 )   (0.25 )
  Extraordinary item     (0.02 )   —     —     —     —  
   
 
 
 
 
 
    Total   $ 0.49   $ 1.13   $ 0.27   $ (7.03 ) $ 1.09  
   
 
 
 
 
 

Diluted earnings (loss) per share:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  Continuing operations   $ 0.50   $ 1.12   $ 1.31   $ 0.36   $ 1.33  
  Discontinued operations     —     —     (1.04 )   (7.34 )   (0.25 )
  Extraordinary item     (0.02 )   —     —     —     —  
   
 
 
 
 
 
    Total   $ 0.48   $ 1.12   $ 0.27   $ (6.98 ) $ 1.08  
   
 
 
 
 
 

        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.




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