EXHIBIT 11.1 THE WARNACO GROUP, INC. Calculation of Income per Common Share (in thousands except share data) For the First Quarter Ended --------------------------- April 5, April 6, 1997 1996 -------- -------- Net income (loss) $ 18,126 $ 15,218 =========== =========== Weighted average number of shares outstanding during the period: Shares outstanding during the period 49,813,712 49,442,262 Shares issued due to exercise of options 48,118 19,115 Add: common equivalent shares using the treasury stock method 4,822,818 4,065,458 Less: treasury stock (599,215) (286,600) ----------- ----------- Weighted average number of shares 54,085,433 53,240,235 =========== =========== Net income per share $ 0.34 $ 0.29 =========== ===========