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EXHIBIT 11-1
CKE RESTAURANTS, INC. AND SUBSIDIARIES
COMPUTATION OF EARNINGS PER SHARE
FISCAL YEAR ENDED JANUARY 31,
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1999 1998 1997 1996 1995
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(IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)
BASIC EARNINGS PER SHARE:
Income before extraordinary item......... $74,452 $46,757 $22,302 $10,952 $ 1,264
Extraordinary item -- gain on early
retirement of debt, net of applicable
income taxes of $2,084................. 3,260 -- -- -- --
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Net income............................... $77,712 $46,757 $22,302 $10,952 $ 1,264
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Weighted average number of common shares
outstanding during the year............ 51,599 46,634 35,639 33,363 34,083
Purchase of treasury shares......... -- -- -- (131) (261)
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51,599 46,634 35,639 33,232 33,822
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Basic income per share before
extraordinary item..................... $ 1.44 $ 1.00 $ 0.63 $ 0.33 $ 0.04
Extraordinary item -- gain on early
retirement of debt, net of applicable
income taxes -- basic.................. 0.07 -- -- -- --
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Basic net income per share............... $ 1.51 $ 1.00 $ 0.63 $ 0.33 $ 0.04
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FISCAL YEAR ENDED JANUARY 31,
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1999 1998 1997 1996 1995
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(IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)
DILUTED EARNINGS PER SHARE:
Income before extraordinary item......... $74,452 $46,757 $22,302 $10,952 $ 1,264
Interest expense and amortization of debt
issuance costs, net of income tax
effect, applicable to convertible
subordinated notes..................... 4,635 -- -- -- --
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Income before extraordinary item......... 79,087 46,757 22,302 10,952 1,264
Extraordinary item -- gain on early
retirement of debt, net of applicable
income taxes of $2,084................. 3,260 -- -- -- --
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Net income............................... $82,347 $46,757 $22,302 $10,952 $ 1,264
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Weighted average number of common shares
outstanding during the year............ 51,599 46,634 35,639 33,363 34,083
Incremental common shares attributable
to:
Exercise of stock options........... 1,336 1,487 964 379 149
Issuance of convertible subordinated
notes............................. 3,779 -- -- -- --
Purchase of treasury shares......... -- -- -- (131) (261)
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56,714 48,121 36,603 33,611 33,971
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Diluted income per common share before
extraordinary item..................... $ 1.39 $ 0.97 $ 0.61 $ 0.33 $ 0.04
Extraordinary item -- gain on early
retirement of debt, net of applicable
income taxes -- diluted................ 0.06 -- -- -- --
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Diluted net income per share............. $ 1.45 $ 0.97 $ 0.61 $ 0.33 $ 0.04
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