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EXHIBIT 11
CKE RESTAURANTS, INC.
CALCULATION OF EARNINGS PER SHARE
(In thousands, except per share amounts)
Twelve Weeks Ended Forty Weeks Ended
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November 2, November 3, November 2, November 3,
1998 1997 1998 1997
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BASIC EARNINGS PER SHARE
Income before extraordinary item $16,146 $13,102 $61,482 $34,233
Extraordinary item - gain on early retirement of debt,
net of applicable income tax expense of $1,750 2,738 -- 2,738 --
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Net income $18,884 $13,102 $64,220 $34,233
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Weighted average shares outstanding 47,105 46,112 46,833 41,066
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Basic income per common share
before extraordinary item $ 0.34 $ 0.28 $ 1.31 $ 0.83
Extraordinary item - gain on early retirement of debt,
net of applicable income taxes - Basic 0.06 -- 0.06 --
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Basic net income per share $ 0.40 $ 0.28 $ 1.37 $ 0.83
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FULLY DILUTED EARNINGS PER SHARE
Income before extraordinary item $16,146 $13,102 $61,482 $34,233
Interest expense and amortization
of debt issuance costs, net of income tax effect
applicable to convertible subordinated notes 1,242 -- 3,559 --
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Diluted income before extraordinary item 17,388 13,102 65,041 34,233
Extraordinary item - gain on early retirement of debt,
net of applicable income tax expense of $1,750 2,738 -- 2,738 --
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Diluted net income $20,126 $13,102 $67,779 $34,233
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Weighted average number of common
shares outstanding during the period 47,105 46,112 46,833 41,066
Incremental common shares attributable to:
Exercise of outstanding options 1,011 1,561 1,325 1,251
Issuance of convertible subordinated notes 3,862 -- 3,455 --
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Total shares 51,978 47,673 51,613 42,317
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Diluted income per common share
before extraordinary item $ 0.34 $ 0.27 $ 1.26 $ 0.81
Extraordinary item - gain on early retirement of debt,
net of applicable income taxes - Diluted 0.05 -- 0.05 --
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Diluted net income per share $ 0.39 $ 0.27 $ 1.31 $ 0.81
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