1
EXHIBIT 11-1
CKE RESTAURANTS, INC. AND SUBSIDIARIES
COMPUTATION OF EARNINGS PER SHARE
FISCAL YEAR ENDED JANUARY 31
---------------------------------------------------------
1997 1996 1995 1994 1993
-------- -------- -------- -------- --------
(In thousands, except per share amounts)
PRIMARY EARNINGS PER SHARE:
Net income (loss) . . . . . . . . . . . . . . . . . . . . $22,302 $10,952 $ 1,264 $ 3,665 $ (5,507)
======== ======== ======== ======== ========
Weighted average number of common shares
outstanding during the year . . . . . . . . . . . . . . 29,454 27,573 28,169 27,323 27,051
Incremental common shares attributable to
exercise of stock options . . . . . . . . . . . . . 796 312 123 99 441 (1)
Repurchase and retirement of shares . . . . . . . . . -- -- -- (42) --
Purchase of treasury shares . . . . . . . . . . . . . -- (108) (216) -- --
-------- -------- -------- -------- --------
30,250 27,777 28,076 27,380 27,492
======== ======== ======== ======== ========
Primary earnings (loss) per share . . . . . . . . . . . . $ .74 $ .39 $ .05 $ .13 $ (.20)(1)
======== ======== ======== ======== ========
FISCAL YEAR ENDED JANUARY 31
---------------------------------------------------------
1997 1996 1995 1994 1993
-------- -------- -------- -------- --------
(Amounts in thousands, except per share data )
FULLY DILUTED EARNINGS PER SHARE:
Net income (loss) . . . . . . . . . . . . . . . . . . . . $ 22,302 $ 10,952 $ 1,264 $ 3,665 $ (5,507)
======== ======== ======== ======== ========
Weighted average number of common shares
outstanding during the year . . . . . . . . . . . . . . 29,454 27,573 28,169 27,323 27,051
Incremental common shares attributable to
exercise of stock options . . . . . . . . . . . . . 960 554 123 570 501
Repurchase and retirement of shares . . . . . . . . . -- -- -- (42) --
Purchase of treasury shares . . . . . . . . . . . . . -- (108) (216) -- --
-------- -------- -------- -------- --------
30,414 28,019 28,076 27,851 27,552
======== ======== ======== ======== ========
Fully diluted earnings (loss) per share . . . . . . . . . $ .73 $ .39 $ .05 $ .13 $ (.20)(1)
======== ======== ======== ======== ========
__________________
(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.