EXHIBIT 11.1 WORKFLOW MANAGEMENT, INC. STATEMENT REGARDING COMPUTATION OF NET INCOME PER SHARE (IN THOUSANDS, EXCEPT PER SHARE AMOUNTS) Three Months Ended Six Months Ended ---------------------------- -------------------------- October 23, October 24, October 23, October 24, 1999 1998 1999 1998 ------------ ------------ ----------- ----------- BASIC EARNINGS PER SHARE: Net income $ 5,721 $ 2,712 $ 9,158 $ 2,920 ============ ============ ============ ============ Weighted average number of common shares outstanding 12,622 14,396 12,612 15,330 ============ ============ ============ ============ Basic earnings per share $ 0.45 $ 0.19 $ 0.73 $ 0.19 ============ ============ ============ ============ DILUTED EARNINGS PER SHARE: Net income $ 5,721 $ 2,712 $ 9,158 $ 2,920 ============ ============ ============ ============ Weighted average number of: Common shares outstanding 12,622 14,396 12,612 15,330 Effect of dilutive employee stock options* 821 841 105 ------------ ------------ ------------ ------------ Total 13,443 14,396 13,453 15,435 ============ ============ ============ ============ Diluted earnings per share $ 0.43 $ 0.19 $ 0.68 $ 0.19 ============ ============ ============ ============ * The Company had additional employee stock options outstanding during the periods presented that were not included in the computation of diluted earnings per share because they were anti-dilutive. Page 27