EXHIBIT 11 SENECA FOODS CORPORATION AND SUBSIDIARIES COMPUTATION OF EARNINGS PER SHARE (In thousands except per share data) Three Months Ended Six Months Ended ------------------ ---------------- 9/27/03 9/28/02 9/27/03 9/28/02 ------- ------- ------- ------- Basic Net Earnings Applicable to Common Stock (In thousands except per share data): Net Earnings $ 3,910 $ 2,090 $ 7,582 $ 4,022 Deduct Preferred Cash Dividends 6 6 12 12 ------------------------------------------------------------------- Net Earnings Applicable to Common Stock $ 3,904 $ 2,084 $ 7,570 $ 4,010 =================================================================== Weighted Average Common Shares Outstanding 6,683 6,591 6,679 6,589 Weighted Average Participating Preferred Shares 4,443 3,567 4,124 3,569 ------------------------------------------------------------------- Weighted Average Shares Outstanding for Basic Earnings per Common Share 11,126 10,158 10,803 10,158 =================================================================== Basic Earnings Per Common Share $ .35 $ .21 $ .70 $ .39 =================================================================== Diluted Net Earnings Applicable to Common Stock (In thousands except per share data): Net Earnings Applicable to Common Stock $ 3,904 $ 2,084 $ 7,570 $ 4,010 Add Back Preferred Cash Dividends 5 5 10 10 ------------------------------------------------------------------- Net Earnings Applicable to Common Stock-Diluted $ 3,909 $ 2,089 $ 7,580 $ 4,020 =================================================================== Weighted Average Shares Outstanding for Basic Earnings per Common Share 11,126 10,158 10,803 10,158 Effect of Convertible Preferred Stock 67 67 67 67 ---------------------------------------------------------------------------------------------- Weighted Average Shares Outstanding for Diluted Earnings per Common Share 11,193 10,225 10,870 10,225 =================================================================== Diluted Earnings Per Common Share $ .35 $ .20 $ .70 $ .39 =================================================================== Subsequent to the issuance of its condensed consolidated financial statements for the three and six month periods ended September 28, 2002, the Company determined that it should have included convertible participating preferred stock in its calculation of basic earnings per common share under the if-converted method. As a result, the accompanying condensed consolidated financial statements for the three and six months ended September 28, 2002 have been restated from the amounts previously reported to reduce basic earnings per common share for the three and six month periods ended September 28, 2002 from $.32 to $.21 and $.61 to $.39, respectively.