Exhibit 11 THERMO FIBERTEK INC. Computation of Earnings per Share Three Months Ended -------------------------- March 30, April 1, 1996 1995 -------------------------------------------------------------------------- Computation of Fully Diluted Earnings per Share: Income: Net income $ 5,206,000 $ 3,583,000 Add: Convertible debt interest, net of tax 79,000 79,000 ----------- ----------- Income applicable to common stock assuming full dilution (a) $ 5,285,000 $ 3,662,000 ----------- ----------- Shares: Weighted average shares outstanding 40,623,013 40,469,861 Add: Shares issuable from assumed conversion of subordinated convertible obligation 1,258,742 1,258,742 Shares issuable from assumed exercise of options (as determined by the application of the treasury stock method) 1,021,990 730,509 ----------- ----------- Weighted average shares outstanding, as adjusted (b) 42,903,745 42,459,112 ----------- ----------- Fully Diluted Earnings per Share (a) / (b) $ .12 $ .09 =========== ===========