Exhibit 11.1
PREMIUMWEAR, INC.
PER SHARE EARNINGS COMPUTATIONS
April 5, April 6,
1997 1996
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Primary Earnings Per Share:
Weighted average number of common
shares outstanding ...................... 2,279,000 2,137,000
Common share equivalents from assumed
exercise of options and warrants ........ 17,000 --
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Total shares ................... 2,296,000 2,137,000
Net income ..................... $ 222,000 $ 12,000
Net income per common and common
equivalent share ...... $ 0.10 $ 0.01
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Fully Dilutive Earnings Per Share:
Weighted average number of common
shares outstanding ...................... 2,279,000 2,137,000
Common share equivalents from assumed
exercise of options and warrants ........ 17,000 --
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Total shares ................... 2,296,000 2,137,000
Net income ..................... $ 222,000 $ 12,000
Net income per common and common
equivalent share ...... $ 0.10 $ 0.01
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Net income per common and common equivalent share is computed using the weighted
average number of shares outstanding during each period.
Common equivalent shares represent the dilutive effects of outstanding stock
options using the treasury stock method and average market prices during the
periods presented.
The calculation of fully dilutive earnings per share uses the higher of the
ending market price for the period or the average market price.