LEE ENTERPRISES, INCORPORATED PART I. EXHIBIT 11 Computation of Earnings Per Common Share (In Thousands Except Per Share Amounts) Three Months Ended Nine Months Ended June 30, June 30, 1995 1994 1995 1994 (Unaudited) Net income applicable to common shares $ 16,435 $ 14,367 $ 44,377 $ 37,248 Shares: Weighted average common shares outstanding 23,807 23,129 22,902 23,112 Dilutive effect of certain stock options 375 284 336 333 Average common shares outstanding as adjusted 24,182 23,413 23,238 23,445 Earnings per common share $ .68 $ .61 $ 1.91 $ 1.59