EXHIBIT 11 SPARTECH CORPORATION AND SUBSIDIARIES STATEMENT RE COMPUTATION OF PER SHARE EARNINGS (In thousands, except per share data) QUARTER ENDED NINE MONTHS ENDED Aug. 3, Aug. 4, Aug 3., Aug. 4, 2002 2001 2002 2001 NET EARNINGS Basic net earnings $ 11,486 $ 4,659 $ 25,422 $ 23,337 Add: distributions on preferred securities, net of tax 1,614 - - 2,086 Diluted net earnings $ 13,100 $ 4,659 $ 25,422 $ 25,423 WEIGHTED AVERAGE SHARES OUTSTANDING Basic weighted average common shares outstanding 28,724 26,746 27,447 26,690 Add: shares issuable from assumed conversion of preferred stock 4,578 - - 2,071 Add: shares issuable from assumed exercise of options 588 577 537 423 Diluted weighted average shares outstanding 33,890 27,323 27,984 29,184 NET EARNINGS PER SHARE Basic $ .40 $ .17 $ .93 $ .87 Diluted $ .39 $ .17 $ .91 $ .87