EXHIBIT 11 Helene Curtis Industries, Inc. and Subsidiaries COMPUTATIONS OF EARNINGS PER SHARE (Dollars in thousands, except per-share data) For the Three Months For the Nine Months Ended November 30, Ended November 30, ------------------------- ------------------------- 1994 1993 1994 1993 ---------- ---------- ---------- ---------- Primary earnings per share: Net earnings $ 3,363 $ 2,777 $ 11,396 $ 6,496 ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- Weighted average number of shares outstanding: Common and Class B Common Shares 9,442,298 9,443,445 9,443,181 9,417,164 Common stock equivalents 83,200 15,970 43,423 64,337 ---------- ---------- ---------- ---------- Total 9,525,498 9,459,415 9,486,604 9,481.501 ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- Primary earnings per share $ .35 $ .30 $ 1.20 $ .69 ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- Fully diluted earnings per share: Net earnings $ 3,363 $ 2,777 $ 11,396 $ 6,496 ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- Weighted average number of shares outstanding: Common and Class B Common Shares 9,442,298 9,443,445 9,443,181 9,417,164 Common stock equivalents 81,219 14,490 49,771 36,257 ---------- ---------- ---------- ---------- Total 9,523,517 9,457,935 9,429,952 9,453,421 ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- Fully diluted earnings per share $ .35 $ .29 $ 1.20 $ .69 ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- Note: Fully diluted amounts are not included on the face of the consolidated statements of earnings because they differ from primary earnings per share by less than 3%. -12-