1 EXHIBIT 11 THE GYMBOREE CORPORATION COMPUTATION OF INCOME PER SHARE (IN THOUSANDS, EXCEPT PER SHARE DATA) 13 WEEKS ENDED -------------- MAY 1, MAY 2, 1999 1998 ------- ------- NET INCOME $ 4,785 $ 4,148 ======= ======= Weighted average number of shares outstanding during the period: Common Stock 24,258 24,110 Add incremental shares from assumed exercise of stock options 159 127 ------- ------- Weighted average common and common equivalent shares outstanding 24,417 24,237 ======= ======= BASIC INCOME PER SHARE $ 0.20 $ 0.17 ======= ======= DILUTED INCOME PER SHARE $ 0.20 $ 0.17 ======= =======