EXHIBIT 11.1
FRED'S, INC.
COMPUTATION OF NET INCOME PER SHARE
(unaudited)
(in thousands, except
for per share amounts)
Years Ended
-------------------------------------
February 3, January 28, January 29,
1996 1995 1994
----------- ----------- -----------
Primary net income per
share
- ----------------------
Net income $2,733 $8,373 $9,742
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Weighted average number
of common shares
outstanding during
the period 9,322 9,307 9,307
Additional shares
attributable to common
stock equivalents - - -
----- ----- -----
9,322 9,307 9,307
===== ===== =====
Net income per share $ .29 $ .90 $ 1.05
===== ===== =====
Fully diluted net income
per share
- ------------------------
Net income $2,733 $8,373 $9,742
===== ===== =====
Weighted average number
of common shares out-
standing during the
period 9,322 9,307 9,307
Additional shares
attributable to common
stock equivalents - - -
----- ----- -----
9,322 9,307 9,307
===== ===== =====
Net income per share $ .29 $ .90 $ 1.05
===== ===== =====