Exhibit 11
AMES DEPARTMENT STORES, INC. AND SUBSIDIARIES
SCHEDULE OF COMPUTATION OF BASIC AND DILUTED
NET EARNINGS PER SHARE
(In thousands, except per share amounts)
52 Weeks 52 Weeks 53 Weeks
Ended Ended Ended
January 29, January 30, January 31,
2000 1999 1998
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Income before Cumulative Effect adjustment...................... $18,234 $33,830 $34,546
Cumulative Effect adjustment, net of tax........................ (1,107) - -
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Basic and diluted net income............................... $17,127 $33,830 $34,546
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For Basic Earnings Per Share:
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Weighted average number of common shares outstanding during
the period...................................................... 27,517 (a) 23,010 21,723
Basic earnings per share:
Basic income per share before Cumulative Effect
adjustment...................................................... $0.66 $1.47 $1.59
Cumulative Effect adjustment, net of tax........................ (0.04) - -
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Basic net income per share...................................... $0.62 $1.47 $1.59
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For Diluted Earnings Per Share:
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Weighted average number of common shares outstanding during
the period...................................................... 27,517 (a) 23,010 21,723
Add Common stock equivalent shares represented by:
Series B Warrants.......................................... 20 98 95
Series C Warrants.......................................... - 440 1,018
Options under 1994 Management Stock Option
Plan and 1998 Stock Incentive Plan......................... 106 606 47
Options under 1994 Non-Employee Director
Stock Option Plan.......................................... 15 62 766
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Weighted average number of common and common equivalent
shares.......................................................... 27,658 24,216 23,649
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Diluted earnings per share:
Diluted income per share before Cumulative Effect
adjustment...................................................... 0.66 1.40 1.46
Cumulative Effect adjustment, net of tax........................ (0.04) - -
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Diluted net income per share............................... $0.62 $1.40 $1.46
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(a) The weighted average number of common shares outstanding is net of Treasury Stock.
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