EXHIBIT 11
SMITHFIELD FOODS, INC.
COMPUTATION OF NET INCOME PER COMMON SHARE
Income and the number of shares used in the computation of net income per common
and common equivalent shares were computed as follows:
52 Weeks 52 Weeks 52 Weeks
Ended Ended Ended
Income April 27, 1997 April 28, 1996 April 30, 1995
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Income from continuing operations, $44,937,000 $19,786,000 $31,915,000
Dividends on preferred stock 1,238,000 1,152,000 675,000
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Income from continuing operations available to
common shareholders 43,699,000 18,634,000 31,240,000
Loss from discontinued operations - (3,900,000) (4,075,000)
Net income available to common shareholders $43,699,000 $14,734,000 $27,165,000
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Shares
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Weighted average common shares:
Outstanding 18,113,000 16,962,000 16,397,000
Incremental common share equilavents for stock
options and dilutive preferred shares 572,000 568,000 662,000
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Weighted average common shares used for
computation 8,685,000 17,530,000 17,059,000
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Income (loss) per common share:
Continuing operations $ 2.34 $ 1.06 $ 1.83
Discontinued operations (.22) (.24)
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-
Net income $ 2.34 $ .84 $ 1.59
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