Exhibit 11 INTERNATIONAL MULTIFOODS CORPORATION AND SUBSIDIARIES Computation of Earnings per Common Share (unaudited) (in thousands, except per share amounts) THREE MONTHS ENDED NINE MONTHS ENDED Nov. 30, Nov. 30, Nov. 30, Nov. 30, 1997 1996 1997 1996 Average shares of common stock outstanding 18,570 17,980 18,273 17,980 Common stock equivalents 287 1 336 10 Total common stock and equivalents assuming full dilution 18,857 17,981 18,609 17,990 Net earnings applicable to common stock $9,411 $8,636 $15,950 $12,198 Earnings per share of common stock: Primary $ .51 $ .48 $ .87 $ .68 Fully diluted $ .50 $ .48 $ .86 $ .68 Primary earnings per share have been computed by dividing net earnings by the weighted average number of shares of common stock outstanding during the period. Common stock options and other common stock equivalents have not entered into the primary earnings per share computations since their effect is not significant. Fully diluted earnings per share have been computed assuming issuance of all shares for stock options deemed to be common stock equivalents, using the treasury stock method.