Exhibit 11
INTERNATIONAL MULTIFOODS CORPORATION AND SUBSIDIARIES
Computation of Earnings (Loss) per Common Share
(unaudited)
(in thousands, except per share amounts)
THREE MONTHS ENDED
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May 31, May 31,
1998 1997
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Average shares of
common stock outstanding 18,765 18,016
Common stock equivalents - 103
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Total common stock and equivalents
assuming full dilution 18,765 18,119
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Net earnings (loss)
applicable to common stock $(24,301) $ 2,000
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Earnings (loss) per
share of common stock:
Basic $ (1.30) $ .11
Diluted $ (1.30) $ .11
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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.