1 EXHIBIT 11 CKE RESTAURANTS, INC. CALCULATION OF EARNINGS PER SHARE (In thousands except per share amounts) Sixteen Weeks Ended ---------------------- May 20, May 22, 1996 1995 -------- -------- PRIMARY EARNINGS PER SHARE Net income $ 5,333 $ 1,915 ======== ======== Weighted average number of common shares outstanding during the period 18,571 18,255 Incremental common shares attributable to exercise of outstanding options 378 15 Repurchase of shares -- (72) -------- -------- Total shares 18,949 18,198 ======== ======== Primary earnings per share $ .28 $ .11 ======== ======== FULLY DILUTED EARNINGS PER SHARE Net income $ 5,333 $ 1,915 ======== ======== Weighted average number of common shares outstanding during the period 18,571 18,255 Incremental common shares attributable to exercise of outstanding options 538 16 Repurchase of shares -- (72) -------- -------- Total shares 19,109 18,199 ======== ======== Fully diluted earnings per share $ .28 $ .11 ======== ======== 14