EXHIBIT 11 BLYTH INDUSTRIES, INC. COMPUTATIONS OF EARNINGS PER COMMON SHARE I. Three months ended April 30: 1996 1995 ---------------------------------- Average number of shares outstanding during the period 30,710,153 28,372,220 Common equivalent shares: Shares issuable under outstanding options which are dilutive 526,200 131,400 Shares which could have been purchased based upon the market value for the period 212,815 84,020 ---------------------------------- 313,385 47,380 Weighted average number of common and common equivalent shares outstanding 31,023,538 28,419,600 Net earnings $7,248,000 $4,106,000 Earnings per common and common equivalent share $0.23 $0.14