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EXHIBIT 11
BLIMPIE INTERNATIONAL, INC. AND SUBSIDIARIES
COMPUTATION OF PER COMMON SHARE EARNINGS
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Year Ended June 30,
1997 1996 1995
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Net income applicable to
Common shares $3,277,994 $4,040,275 $2,339,916
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Primary
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Weighted average number
Of primary common shares
Outstanding 9,517,462 9,372,447 8,573,797
Incremental shares for
Stock options and warrants 240,474 132,537 218,532
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Total number of shares used
In per share calculations 9,757,936 9,504,984 8,792,329
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Primary Earnings per common share $0.34 $0.43 $0.27
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Fully diluted
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Weighted average number
Of primary common shares
Outstanding 9,757,936 9,372,447 8,573,797
Increase to assume conversion
Of options and warrants to reflect
Maximum dilution effect -- 364,961 247,755
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Total 9,757,936 9,737,408 8,821,552
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Fully diluted earnings
per common share $0.34 $0.41 $0.27
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