1 EXHIBIT 11 CKE RESTAURANTS, INC. CALCULATION OF EARNINGS PER SHARE (In thousands except per share amounts) Twelve Weeks Ended Twenty-eight Weeks Ended ---------------------------- ------------------------------ August 14, August 15, August 14, August 15, 1995 1994 1995 1994 ------------ ------------ ------------- ------------- PRIMARY EARNINGS PER SHARE - -------------------------- Net income $ 2,808 $ 864 $ 4,723 $ 1,520 ======= ======= ======= ======= Weighted average number of common shares outstanding during the period 18,211 18,779 18,277 18,756 Incremental common shares attributable to exercise of outstanding options 156 56 86 134 Repurchase and retirement of shares -- (2) (80) (1) ------- ------- ------- ------- Total shares 18,367 18,833 18,283 18,889 ======= ======= ======= ======= Primary earnings per share $ .15 $ .05 $ .26 $ .08 ======= ======= ======= ======= FULLY DILUTED EARNINGS PER SHARE - -------------------------------- Net income $ 2,808 $ 864 $ 4,723 $ 1,520 ======= ======= ======= ======= Weighted average number of common shares outstanding during the period 18,211 18,779 18,277 18,756 Incremental common shares attributable to exercise of outstanding options 244 56 244 134 Repurchase and retirement of shares -- (2) (80) (1) ------- ------- ------ ------- Total shares 18,455 18,833 18,441 18,889 ======= ======== ======= ======= Fully diluted earnings per share $ .15 $ .05 $ .26 $ .08 ======= ======== ======= ======= 13