EXHIBIT 11
J. BAKER, INC. AND SUBSIDIARIES
Computation of Net Earnings Per Common Share*
(Unaudited)
Quarters Ended Nine Months Ended
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October 28, October 30, October 28, October 30,
2000 1999 2000 1999
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Numerator for earnings (loss) per common share calculation:
Earnings from continuing operations,
basic and diluted $ 1,111,907 $ 1,019,113 $ 5,095,721 $ 4,091,176
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Earnings (loss) from discontinued operations,
basic and diluted $ (26,221,000) $ 410,242 $ (25,200,060) $ 1,692,197
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Denominator for earnings (loss) per common share calculation:
Weighted average common shares:
Basic 14,068,341 14,066,729 14,067,850 14,065,628
Effect of dilutive securities:
Stock options, warrants and performance
share awards 97,895 525,936 257,802 293,595
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Diluted 14,166,236 14,592,665 14,325,652 14,359,223
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Earnings (loss) per common share, basic
Continuing operations $ 0.08 $ 0.07 $ 0.36 $ 0.29
Discontinued operations (1.86) 0.03 (1.79) 0.12
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Earnings (loss) per common share, basic $ (1.78) $ 0.10 $ (1.43) $ 0.41
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Earnings (loss) per common share, diluted
Continuing operations $ 0.08 $ 0.07 $ 0.36 $ 0.28
Discontinued operations (1.85) 0.03 (1.76) 0.12
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Earnings (loss) per common share, diluted $ (1.77) $ 0.10 $ (1.40) $ 0.40
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* This calculation is submitted in accordance with Item 601(b)(11) of Regulation
S-K.