Spartech (SEH) 10-K 2001 FY Annual report

EXHIBIT 11

SPARTECH CORPORATION AND SUBSIDIARIES

COMPUTATION OF NET EARNINGS PER COMMON SHARE

(In thousands, except per share amounts)

Fiscal Year Ended

		Nov 3, 2001		Oct 28, 2000		Oct 30, 1999
NET EARNINGS
Basic net earnings applicable to common shares	$ 29,903		$ 49,907		$ 43,071
Add: Distributions on Preferred Securities, net of tax	2,086		4,990		1,280
Diluted net earnings	$ 31,989		$ 54,897		44,351
WEIGHTED AVERAGE SHARES OUTSTANDING
Weighted average common shares outstanding	26,697		27,322		27,038
Add: Shares issuable from assumed exercise of Preferred Stock	1,554		3,681		1,075
Add: Shares issuable from assumed exercise of options and warrants	445		871		1,869
Diluted weighted average common shares outstanding	28,696		31,874
NET EARNINGS PER COMMON SHARE
Basic	$ 1.12		$ 1.83		$ 1.53
Diluted	$ 1.11		$ 1.72		$ 1.48