SMITHFIELD FOODS, INC.
EXHIBIT 11
COMPUTATION OF NET INCOME PER COMMON SHARE
Net income and the number of common shares and common equivalent shares used to
present net income per common share were computed as follows:
13 Weeks 13 Weeks 39 Weeks 39 Weeks
Ended Ended Ended Ended
Income (in thousands) Jan. 26, 1997 Jan. 28, 1996 Jan. 26, 1997 Jan. 28, 1996
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Net income $15,734 $ 8,687 $25,497 $ 8,908
Dividends accumulated for Series B
and C preferred stock (337) (536) (1,012) (874)
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Net income available to
common stockholders $15,397 $ 8,151 $24,485 $ 8,034
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Common shares (in thousands)
Weighted average common shares:
Outstanding 18,037 16,910 18,023 16,576
Net effect of dilutive stock options 759 723 546 576
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Common shares for computation 18,796 17,633 18,569 17,152
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Net income per common share $ .82 $ .46 $ 1.32 $ .47
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