TRANS WORLD ENTERTAINMENT CORPORATION AND SUBSIDIARIES
Exhibit 11: Statement re computation of per share earnings
Thirteen Weeks Ended Thirty-Nine Weeks Ended
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November 1, November 2, November 1, November 2,
1997 1996 1997 1996
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(In thousands except per share data.)
Primary:
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Weighted average shares outstanding 9,852 9,741 9,809 9,738
Net effect of dilutive stock options
based on the treasury stock method
using the average market price 276 N/A N/A N/A
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10,128 9,741 9,809 9,738
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Net income (loss) $979 ($2,477) ($716) ($7,608)
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Per share amount $0.10 ($0.25) ($0.07) ($0.78)
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Fully Diluted:
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Weighted average shares outstanding 9,852 9,741 9,809 9,738
Net effect of dilutive stock options
based on the Treasury Stock method
using the period end price if higher
than the average market price 284 N/A N/A N/A
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Total 10,136 9,741 9,809 9,738
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Net income (loss) $979 ($2,477) ($716) ($7,608)
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Per share amount $0.10 ($0.25) ($0.07) ($0.78)
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N/A = Not applicable as options would have an anti-dilutive effect.
(1) = Fully diluted per share amounts have been excluded from the condensed
consolidated financial statements, for each period predented, as the
difference between primary and fully diluted per share amounts is immaterial
(less than three percent of earnings per weighted average common share
outstanding).