1 EXHIBIT 11 THE GYMBOREE CORPORATION COMPUTATION OF INCOME PER SHARE (IN THOUSANDS, EXCEPT PER SHARE DATA) 13 Weeks Ended 26 Weeks Ended ---------------------- ---------------------- AUGUST 4, JULY 30, AUGUST 4, JULY 30, 1996 1995 1996 1995 -------- ------- -------- ------- NET INCOME $ 4,285 $ 4,283 $12,878 $10,571 ======= ======= ======= ======= Weighted average number of shares outstanding during the period: Common Stock 25,161 24,848 25,103 24,748 Add incremental shares from assumed exercise of stock options and warrants 554 531 484 590 ------- ------- ------- ------- 25,715 25,379 25,586 25,338 ======= ======= ======= ======= PRIMARY NET INCOME PER SHARE $ 0.17 $ 0.17 $ 0.50 $ 0.42 ======= ======= ======= ======= Weighted average number of shares outstanding during the period: Common Stock 25,161 24,849 25,103 24,748 Add incremental shares from assumed exercise of stock options and warrants 555 654 491 731 ------- ------- ------- ------- Weighted average common and common equivalent shares outstanding during the period 25,716 25,503 25,594 25,479 ======= ======= ======= ======= FULLY DILUTED NET INCOME PER SHARE $ 0.17 $ 0.17 $ 0.50 $ 0.41 ======= ======= ======= ======= 15