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EXHIBIT 11-1
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EXHIBIT 11-1
CARL KARCHER ENTERPRISES, INC.
COMPUTATION OF EARNINGS PER SHARE*
FISCAL YEAR ENDED JANUARY 31,
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1994 1993 1992 1991 1990
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(AMOUNTS IN THOUSANDS, EXCEPT PER SHARE DATA)
PRIMARY EARNINGS PER SHARE:
Net income (loss)............................ $ 3,665 $(5,507) $13,038 $13,036 $ 5,551
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Weighted average shares outstanding:
Common stock outstanding from
beginning of year....................... 18,091 17,918 18,017 17,917 17,754
Pro-rata shares:
Exercise of stock options............... 124 116 90 21 121
Repurchase and retirement of shares..... (28) -- (208) -- --
Dilutive effect of outstanding stock
options................................. 66 294(1) 293 229 906
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18,253 18,328 18,192 18,167 18,781
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Primary earnings (loss) per share............ $.20 $(.30)(1) $.72 $.72 $.30
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FISCAL YEAR ENDED JANUARY 31,
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1994 1993 1992 1991 1990
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(AMOUNTS IN THOUSANDS, EXCEPT PER SHARE DATA)
FULLY DILUTED EARNINGS PER SHARE:
Net income (loss)......................... $ 3,665 $(5,507) $13,038 $13,036 $ 5,551
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Weighted average shares outstanding:
Common stock outstanding from beginning
of year.............................. 18,091 17,918 18,017 17,917 17,754
Pro-rata shares:
Exercise of stock options............ 124 116 90 21 121
Repurchase and retirement of
shares............................. (28) -- (208) -- --
Dilutive effect of outstanding stock
options.............................. 380 334(1) 309 229 933
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18,567 18,368 18,208 18,167 18,808
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Fully diluted earnings (loss) per
share................................ $.20 $(.30)(1) $.72 $.72 $.30
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* Per share data have been adjusted for a two-for-one stock split effective
July 14, 1989.
(1) This calculation is submitted in accordance with Regulation S-K item
601(b)(11) although it is contrary to paragraph 40 of Accounting Principles
Board Opinion No. 15 because it produces an antidilutive effect.