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EXHIBIT 11
GARDEN BOTANIKA, INC.
CALCULATION OF EARNINGS
PER COMMON AND COMMON EQUIVALENT SHARE
(EXHIBIT 11)
(amounts in thousands except per share data)
(Unaudited)
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Quarter Ended Six Months Ended
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August 1, August 2, August 1, August 2,
1998 1997 1998 1997
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PRIMARY:
Earnings -
Net earnings (loss) applicable to common
and common equivalent shares $(10,173) $ (4,162) $(15,170) $ (7,387)
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Shares -
Weighted average common shares outstanding 7,069 7,069 7,069 7,069
Net effect of stock options, based on treasury stock method
using average market price(1) -- -- -- --
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Weighted average common and common equivalent shares 7,069 7,069 7,069 7,069
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Primary earnings (loss) per common and
common equivalent share $ (1.44) $ (.59) $ (2.15) $ (1.04)
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FULLY DILUTED:
Fully diluted earnings (loss) per share is not presented, as there were no
potentially dilutive securities.
NOTE:
(1) In the calculation of weighted average common and common equivalent
shares, nonqualified stock options and warrants to purchase common stock
are considered common stock equivalents. Such options and warrants are
converted using the treasury stock method, which assumes that the shares
issuable upon exercise of the options or warrants were outstanding for the
full period. In accordance with generally accepted accounting principles,
no common stock equivalents are shown for either the second quarter or the
first six months of either fiscal 1998 of fiscal 1997, as their effect
would have been antidilutive.
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