EXHIBIT 11 SPARTECH CORPORATION AND SUBSIDIARIES STATEMENT RE COMPUTATION OF PER SHARE EARNINGS (In thousands, except per share data) QUARTER ENDED February 1, February 2, 2003 2002 NET EARNINGS Basic net earnings $ 6,158 $ 4,862 Add: Distributions on Preferred Securities, net of tax - - ------- -------- Diluted net earnings $ 6,158 $ 4,862 ======= ======== WEIGHTED AVERAGE SHARES OUTSTANDING Basic weighted average common shares outstanding 29,249 26,751 Add: Shares issuable from assumed conversion of Preferred Stock - - Add: Shares issuable from assumed exercise of options 254 468 ------- -------- Diluted weighted average shares 29,503 27,219 outstanding ======= ======== NET EARNINGS PER SHARE: Basic $ .21 $ .18 ======= ======== Diluted $ .21 $ .18 ======= ========