1 EXHIBIT 11 CKE RESTAURANTS, INC. COMPUTATION OF EARNINGS PER SHARE (In thousands except per share amounts) Twelve Weeks Ended Forty Weeks Ended ----------------------------- ------------------------ November 6, November 7, November 6, November 7, 1995 1994 1995 1994 ---------- ---------- ---------- ---------- PRIMARY EARNINGS PER SHARE Net income $ 3,021 $ 286 $ 7,744 $ 1,806 ======= ======= ======= ======= Weighted average number of common shares outstanding during the period 18,363 18,813 18,253 18,780 Incremental common shares attributable to exercise of outstanding options 298 2 156 87 Repurchase and retirement of shares -- (122) -- (40) ------- ------- ------- ------- Total shares 18,661 18,693 18,409 18,827 ======= ======= ======= ======= Primary earnings per share $ .16 $ .02 $ .42 $ .10 ======= ======= ======= ======= FULLY DILUTED EARNINGS PER SHARE Net income $ 3,021 $ 286 $ 7,744 $ 1,806 ======= ======= ======= ======= Weighted average number of common shares outstanding during the period 18,363 18,813 18,253 18,780 Incremental common shares attributable to exercise of outstanding options 343 2 343 87 Repurchase and retirement of shares -- (122) -- (40) ------- ------- ------- ------- Total shares 18,706 18,693 18,596 18,827 ======= ======= ======= ======= Fully diluted earnings per share $ .16 $ .02 $ .42 $ .10 ======= ======= ======= ======= 14