Exhibit 11 STANLEY FURNITURE COMPANY, INC. SCHEDULE OF COMPUTATION OF EARNINGS PER SHARE (Unaudited) (In thousands, except per share data) March 28, March 30, 1998 1997 --------- --------- Net income used in calculating basic and diluted earnings per common share.. $3,270 $2,772 ====== ====== Basic earnings per common share: Weighted average shares outstanding...... 3,437 4,584 ====== ====== Basic earnings per common share.......... $ .95 $ .60 ====== ====== Diluted earnings per common share: Weighted average shares outstanding.... 3,437 4,584 Add shares issuable assuming excer- cise of stock options................ 512 427 ------ ------ Weighted average number of shares used in calculating diluted earnings per common share........ 3,949 5,011 ====== ====== Diluted earnings per common share............................. $ .83 $ .55 ====== ======