EXHIBIT 11 BLYTH INDUSTRIES, INC. COMPUTATIONS OF EARNINGS PER COMMON SHARE (IN THOUSANDS EXCEPT PER SHARE DATA) I. Three months ended April 30: 1997 1996 --------------------------- Average number of shares outstanding during the period 31,421 30,710 Common equivalent shares: Shares issuable under outstanding options which are dilutive 643 526 Shares which could have been purchased based upon the market value for the period 364 212 --------------------------- 279 314 Weighted average number of common and common equivalent shares outstanding 31,700 31,024 Net earnings $10,855 $7,248 Earnings per common and common equivalent share $0.34 $0.23