1 EXHIBIT 11 THE GYMBOREE CORPORATION COMPUTATION OF INCOME PER SHARE (IN THOUSANDS, EXCEPT PER SHARE DATA) 13 WEEKS ENDED 39 WEEKS ENDED -------------- -------------- NOV. 3, OCT. 29, NOV. 3, OCT. 29, 1996 1995 1996 1995 ---- ---- ---- ---- NET INCOME $ 8,995 $ 7,032 $21,872 $17,603 ======= ======= ======= ======= Weighted average number of shares outstanding during the period: Common Stock 25,257 24,908 25,155 24,803 Add incremental shares from assumed exercise of stock options and warrants 515 534 498 567 ------- ------- ------- ------- 25,772 25,442 25,653 25,370 ======= ======= ======= ======= PRIMARY NET INCOME PER SHARE $ 0.35 $ 0.28 $ 0.85 $ 0.69 ======= ======= ======= ======= Weighted average number of shares outstanding during the period: Common Stock 25,257 24,908 25,155 24,803 Add incremental shares from assumed exercise of stock options and warrants 576 533 622 569 ------- ------- ------- ------- Weighted average common and common equivalent shares outstanding during the period 25,834 25,441 25,777 25,372 ======= ======= ======= ======= FULLY DILUTED NET INCOME PER SHARE $ 0.35 $ 0.28 $ 0.85 $ 0.69 ======= ======= ======= ======= 15