EXHIBIT 11.1
THE WARNACO GROUP, INC.
CALCULATION OF INCOME PER COMMON SHARE
THREE MONTHS ENDED NINE MONTHS ENDED
------------------------ ------------------------
OCTOBER 4, OCTOBER 5, OCTOBER 4, OCTOBER 5,
1997 1996 1997 1996
---------- ---------- ---------- ----------
(IN THOUSANDS EXCEPT SHARE DATA)
Net income (loss).............................. $32,081 $5,811 $67,362 $(32,454)
------- ------ ------- --------
------- ------ ------- --------
Weighted average number of shares outstanding
during the period:
Shares outstanding during the period...... 50,130,376 49,729,964 49,770,781 49,421,416
Restricted shares issued during the
period.................................. -- -- 68,939 88,015
Shares issued due to exercise of
options................................. 92,863 24,038 184,346 85,496
Add: common equivalent shares using the
treasury stock method................... 5,157,242 3,889,143 4,969,650 4,180,441
Less: treasury stock...................... (750,912) (286,600) (683,175) (286,600)
---------- ---------- ---------- ----------
Weighted average number of shares.............. 54,629,569 53,356,545 54,310,541 53,488,768
---------- ---------- ---------- ----------
---------- ---------- ---------- ----------
Net income per share........................... $0.59 $0.11 $1.24 $(0.61)
----- ----- ----- -------
----- ----- ----- -------
15