Exhibit 11 COMPUTATION OF PER SHARE EARNINGS The following is a computation of the weighted average number of shares outstanding which is used in the computation of per share earnings for Luby's, Inc. for the quarters ended November 21, 2001, and November 30, 2000. Quarter ended November 21, 2001 22,422,943 x shares outstanding for 82 days 1,838,681,326 divided by 82 _____________ 22,422,943 Quarter ended November 30, 2000 22,420,375 x shares outstanding for 91 days 2,040,254,125 divided by 91 _____________ 22,420,375