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. 30, 2003		Aug. 31, 2002			Aug. 30, 2003		Aug. 31, 2002
Average shares of common stock outstanding	19,253		19,095			19,223		19,062
Dilutive potential common shares	294		396			206		411
Total adjusted average shares	19,547		19,491			19,429		19,473
Earnings from continuing operations	$	887	$	4,353		$	584	$	7,659
Loss from discontinued operations	—		(32,390		)	—		(72,134		)
Net earnings (loss) applicable to common stock	$	887	$	(28,037	)	$	584	$	(64,475	)
Basic earnings (loss) per share of common stock:
Continuing operations	$	0.05	$	0.23		$	0.03	$	0.40
Discontinued operations	—		(1.70		)	—		(3.78		)
Total	$	0.05	$	(1.47	)	$	0.03	$	(3.38	)
Diluted earnings (loss) per share of common stock:
Continuing operations	$	0.05	$	0.22		$	0.03	$	0.39
Discontinued operations	—		(1.66		)	—		(3.70		)
Total	$	0.05	$	(1.44	)	$	0.03	$	(3.31	)

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 that the proceeds from such exercises were used to acquire shares of common stock at the average market price during the period.