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 29, 1997 June 30,1996 June 25, 1995
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Primary
Weighted average number of
shares outstanding 63,294 65,726 69,005
Net effect of dilutive
stock options- based on
the treasury stock method
using average market price 641 485 537
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Total 63,935 66,211 69,542
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Net Income $ 115,665 $ 72,479 $ 116,171
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Per Share Amount $ 1.81 $ 1.09 $ 1.67
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Fully Diluted
Weighted average number of
shares outstanding 63,294 65,726 69,005
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 715 525 544
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Total 64,009 66,251 77,302
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Net Income $ 115,665 $ 72,479 $ 116,171
Add 6% convertible subordinated
notes interest, net of tax - * 8,703
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Total $ 115,665 $ 72,479 $ 124,874
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Per Share Amount $ 1.81 $ 1.09 $ 1.62
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* 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 this period has been reported consistent with the primary
earnings per share results.