Movie Gallery, Inc. Computation of Earnings Per Share Quarter Ended Three Quarters Ended September 29 September 30 September 29 September 30 1996 1995 1996 1995 --------------------------------------------------------------- Net income (loss) .................. $ (4,237,000) $ 3,530,000 $ (2,214,000) $ 8,705,000 ============ =========== =========== =========== Shares: Weighted average common shares outstanding ..................... 13,422,534 12,536,130 13,180,362 11,491,117 Net effect of dilutive stock options -- 477,140 169,762 365,801 ------------ ----------- ----------- ----------- Weighted average common and common equivalent shares outstanding ... 13,422,534 13,013,270 13,350,124 11,856,918 ============ =========== =========== =========== Income (loss) per common and common equivalent share ......... $ (.32) $ .27 $ (0.17) $ .73 ============ =========== =========== =========== 13