Exhibit 11
INTERNATIONAL MULTIFOODS CORPORATION AND SUBSIDIARIES
Computation of Earnings (Loss) per Common Share
(unaudited)
(in thousands, except per share amounts)
THREE MONTHS ENDED NINE MONTHS ENDED
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Nov. 30, Nov. 30, Nov. 30, Nov. 30,
1999 1998 1999 1998
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Average shares of
common stock outstanding 18,760 18,743 18,755 18,758
Dilutive potential common shares 49 27 78 -
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Total adjusted average shares 18,809 18,770 18,833 18,758
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Earnings (loss) from continuing
operations $ 8,129 $ 9,815 $ 17,782 $ (212)
Loss from discontinued operations - (7,244) (19,560) (136,166)
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Net earnings (loss) applicable
to common stock $ 8,129 $ 2,571 $ (1,778) $(136,378)
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Basic earnings (loss) per share:
Continuing operations $ .43 $ .52 $ .95 $ (.01)
Discontinued operations - (.38) (1.04) (7.26)
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Total $ .43 $ .14 $ (.09) $ (7.27)
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Diluted earnings (loss) per share:
Continuing operations $ .43 $ .52 $ .94 $ (.01)
Discontinued operations - (.38) (1.03) (7.26)
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Total $ .43 $ .14 $ (.09) $ (7.27)
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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 the proceeds from such
exercises were used to acquire shares of common stock at the average
market price during the period.