EXHIBIT 11 - STATEMENT RE: COMPUTATION OF PER SHARE EARNINGS
Year Ended
January 2, January 3, December 29,
1994 1993 1991
1. Net income (loss) $ 6,670,000 $(32,666,000) $(2,320,000)
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2. Weighted average number of
shares outstanding during
period 3,122,658 3,094,419 3,081,351
3. Net effect of dilutive stock
options - based on the
treasury stock method using
average market price 67,221 5,127 8,513
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4. Total weighted average
number of shares and
capital equivalent shares
assumed outstanding 3,189,879 3,099,546 3,089,864
5. Additional net shares,
issuable when market value
at year-end exceeds
average market value
during year 60,578 1,473 292
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6. Shares assumed outstanding
for computation of fully
diluted earnings per share 3,250,457 3,101,019 3,090,156
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Net income (loss) per
capital share (1 / 2) $ 2.14 $ (10.56) $ (.75)
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Net income (loss) per
capital share and capital
share equivalent (1 / 4) $ 2.09 $ (10.54) $ (.75)
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Net income (loss) per
capital share assuming
full dilution (1 / 6) $ 2.05 $ (10.53) $ (.75)
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F-8