EXHIBIT (11)
COMPUTATION OF EARNINGS PER SHARE
UNIFI, INC. AND SUBSIDIARIES
(Amounts in thousands, except per share data)
Years Ended
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June 30, 1996 June 25, 1995 June 26, 1994
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Primary
Weighted average number of
shares outstanding 65,726 69,005 70,415
Net effect of dilutive stock options-
based on the treasury stock method
using average market price 485 537 605
-------- -------- -------
Total 66,211 69,542 71,020
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Net Income $ 72,479 $ 116,171 $ 76,492
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Per Share Amount $ 1.09 $ 1.67 $ 1.08
============ ============ ===========
Fully Diluted
Weighted average number of
shares outstanding 65,726 69,005 70,415
Assumed Conversion of 6% convertible
subordinated notes * 7,753 *
Net effect of dilutive stock options-
based on the treasury stock method
using the year-end market price, if
higher than average market price 525 544 612
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Total 66,251 77,302 71,027
============ ============ ===========
Net Income $ 72,479 $ 116,171 $ 76,492
Add 6% convertible subordinated notes
interest, net of tax * 8,703 *
------------- ------------ ------------
Total $ 72,479 $ 124,874 $ 76,492
============= ============ ===========
Per Share Amount $ 1.09 $ 1.62 $ 1.08
============= ============ ==========
<FN>
* Conversion of the 6% convertible subordinated notes was not considered for this computation
because its effect is antidilutive. Accordingly, fully diluted earning per share for these
periods has been reported consistent with the primary earnings per share results.
</FN>