CLARCOR INC.
EXHIBIT 11 -- COMPUTATIONS OF PER SHARE EARNINGS (A)
FOR THE FIVE YEARS ENDED NOVEMBER 30, 1993
FISCAL YEARS ENDED NOVEMBER 30,
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AVERAGE SHARES OUTSTANDING 1993 1992 1991 1990 1989
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1. Average number of shares
outstanding....................... 14,837,741 14,972,639 14,873,282 14,843,279 17,040,024
2. Net additional shares resulting
from assumed exercise of stock
options*.......................... 213,725 230,202 253,518 123,549 109,173
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3. Adjusted average shares outstanding
for fully diluted computation (1
plus 2)........................... 15,051,466 15,202,841 15,126,800 14,966,828 17,149,197
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Earnings per share of common
stock:
Primary............................
$1.16 $.94 $1.26 $1.37 $.42
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Assuming full dilution.............
$1.15 $.93 $1.24 $1.36 $.41
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<FN>
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* Assumes proceeds from exercise of stock options used to purchase treasury
shares at the greater of the year-end or the average market price during
the period.
(A) Adjusted to reflect 3-for-2 stock split payable February 14, 1992.