SCHLOTZSKY'S, INC. AND SUBSIDIARIES
COMPUTATION OF INCOME(LOSS) PER COMMON SHARE
Three Months Ended Six Months Ended
June 30, 1996 June 30, 1995 June 30, 1996 June 30, 1995
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Computation of income (loss) per
common share-primary:
Net income(loss) $ 714,343 $ 244,381 $1,343,443 $ 423,056
Redeemable preferred stock dividends 0 (140,000) 0 (280,000)
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Income (loss) available to
common shareholders 714,343 104,381 1,343,443 143,056
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Weighted average number of shares outstanding 5,518,057 2,187,500 5,518,057 2,187,500
Common shares issuable under stock option plan 537,332 487,500 560,852 487,500
Common stock warrants outstanding 23,438 28,906 23,438 28,906
Less shares assumed repurchased (404,470) (369,598) (433,121) (369,947)
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5,674,357 2,334,308 5,669,226 2,333,959
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Income (loss) per common share:
Income (loss) before extraordinary item $0.13 $0.04 $0.24 $0.04
Extraordinary item 0.00 0.00 0.00 0.02
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$0.13 $0.04 $0.24 $0.06
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Computation of income (loss) per common
share-fully diluted:
Net income(loss) $ 714,343 $ 244,381 $1,343,443 $ 423,056
Redeemable preferred stock dividends 0 (140,000) 0 (280,000)
Interest Add-back 0 0 5,521 0
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Income (loss) available to
common shareholders 714,343 104,381 1,348,964 143,056
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Weighted average number of shares outstanding 5,518,057 2,187,500 5,518,057 2,187,500
Common shares issuable under stock option plan 537,332 487,500 560,852 487,500
Common stock warrants outstanding 23,438 30,469 23,438 30,469
Convertible securities 0 35,048 10,646 35,242
Less shares assumed repurchased (404,470) (371,414) (433,121) (371,765)
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5,674,357 2,369,103 5,679,872 2,368,946
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Income (loss) per common share:
Income (loss) before extraordinary item $0.13 $0.04 $0.24 $0.04
Extraordinary item 0.00 0.00 0.00 0.02
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$0.13 $0.04 $0.24 $0.06
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