EXHIBIT 11
FRED'S, INC.
COMPUTATION OF NET INCOME PER SHARE
(unaudited)
(in thousands, except per share amounts)
Thirteen Weeks Ended Twenty-Six Weeks Ended
August 2, August 3, August 2, August 3,
1997 1996 1997 1996
--------- --------- -------- --------
Primary net income per share
- ----------------------------
Net income $ 1,251 $ 414 $ 3,931 $ 2,466
======== ====== ======= =======
Weighted average number of
common shares outstanding
during the period 9,349 9,330 9,338 9,330
Additional shares attributable
to common stock equivalents 107 - 58 -
------ ----- ----- -----
9,456 9,330 9,396 9,330
====== ===== ===== =====
Net income per share $ .13 $ .04 $ .42 $ .26
====== ====== ===== =====
Fully diluted net income per share
- ----------------------------------
Net income $1,251 $ 414 $3,931 $2,466
====== ====== ====== ======
Weighted average number of
common shares outstanding
during the period 9,351 9,330 9,343 9,330
Additional shares attributable
to common stock equivalents 140 - 77 -
------ ------ ------- ------
9,491 9,330 9,420 9,330
====== ====== ======= ======
Net income per share $ .13 $ .04 $ .42 $ .26
====== ====== ======= ======
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on
its behalf by the undersigned thereunto duly authorized.
FRED'S, INC.
/s/Michael J. Hayes
-------------------
Michael J. Hayes
Date: September 15, 1997 Chief Executive Officer
/s/Richard B. Witaszak
----------------------
Richard B. Witaszak
Date: September 15, 1997 Chief Financial Officer
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