Exhibit 11 Earnings Per Share Calculation December 30, 1995 December 31, 1994 January 1, 1994 ----------------- ----------------- --------------- Earnings: - --------- Income (loss) before extraordinary item $3,124,000 ($355,000) $1,433,000 Extraordinary item ( 149,000) ---------- --------- ---------- Net Income (Loss) $3,124,000 ($355,000) $1,284,000 ========== ========= ========== Shares: - ------- Weighted average number of common shares outstanding 3,683,582 3,678,218 3,669,297 ========= ========= ========= Income (loss) before extraordinary item per common share $ 0.85 ($ 0.10) $ 0.39 Extraordinary item per common share ( 0.04) ---------- --------- ---------- Net Income (Loss) Per Common Share $ 0.85 ($ 0.10) $ 0.35 Earnings Assuming Full Dilution: - -------------------------------- Income (loss) before extraordinary item $3,124,000 ($355,000) $1,433,000 Extraordinary item ( 149,000) ---------- --------- ---------- Net (loss) income $3,124,000 ($355,000) $1,284,000 ========== ========= ========== Shares: - ------- Weighted average number of common shares and dilutive common share equivalents outstanding 3,691,509 3,678,218 3,674,706 ========= ========= ========= Income (loss) before extraordinary item per common share $ 0.85 ($ 0.10) $ 0.39 Extraordinary item per common share ( 0.04) ---------- --------- ---------- Net Income (Loss) Per Common Share $ 0.85 ($ 0.10) $ 0.35 ========== ========= ==========