EXHIBIT (11) LIQUI-BOX CORPORATION STATEMENT RE COMPUTATION OF EARNINGS PER SHARE Thirteen Weeks Ended Thirty-nine Weeks Ended ----------------------------- ------------------------------ September 28, September 30, September 28, September 30, 1996 1995 1996 1995 ------------- ------------- ------------- ------------- Primary: Weighted average number of common shares outstanding 5,913,503 6,237,156 5,995,549 6,237,156 Net effect of dilutive stock options-- based on treasury stock method using average market price 144,528 120,068 163,437 126,687 ------------- ------------- -------------- -------------- Weighted average common and common equivalent shares 6,058,031 6,357,224 6,158,986 6,363,843 ============= ============= ============== ============== Net Income $ 4,738,000 $ 4,223,000 $ 12,408,000 $ 10,104,000 Earnings per common and common equivalent share $ 0.78 $ 0.66 $ 2.01 $ 1.59 ============= ============= ============== ============== Fully Diluted: Weighted average number of common shares outstanding 5,913,503 6,237,156 5,995,549 6,237,156 Net effect of dilutive stock options -- based on treasury stock method using the quarter-end market price if higher than average market price 159,471 120,068 168,418 126,687 ------------- ------------- -------------- -------------- Fully Diluted Shares 6,072,974 6,357,224 6,163,967 6,363,843 ============= ============= ============== ============== Net Income $ 4,738,000 $ 4,223,000 $ 12,408,000 $ 10,104,000 Earnings per share assuming full dilution $ 0.78 $ 0.66 $ 2.01 $ 1.59 ============= ============= ============== ============== -12-