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EXHIBIT 11
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NATIONAL RECORD MART, INC.
CALCULATION OF NET INCOME (LOSS) PER
COMMON SHARE FOR THE THIRTEEN AND THIRTY-NINE WEEKS
ENDED DECEMBER 25, 1999 AND DECEMBER 26, 1998
NET INCOME (LOSS) PER COMMON SHARE
The computation of weighted average common shares and equivalents outstanding
for the periods presented is as follows:
Thirteen Weeks Ended Thirty-nine Weeks Ended
December 25, December 26, December 25, December 26,
1999 1998 1999 1998
----------- ----------- --------- -----------
Weighted average common 5,048,167 4,793,184 5,048,372 4,788,803
shares outstanding
Common Stock Equivalents
which are dilutive 473,800 903,713 * 872,944
Treasury stock assumed to
be repurchased using
proceeds from options and
warrants (185,313) (93,625) * (102,680)
----------- ----------- --------- -----------
Weighted average common
shares and equivalents
outstanding 5,336,654 5,603,273 5,048,372 5,559,067
----------- ----------- --------- -----------
Net income (loss) $ 2,653,631 $ 2,441,804 $(693,746) $ 144,162
=========== =========== ========= ===========
Basic net income (loss) per share $ 0.53 $ 0.51 $ (0.14) $ 0.03
=========== =========== ========= ===========
Diluted net income (loss) per share $ 0.50 $ 0.44 $ (0.14) $ 0.03
=========== =========== ========= ===========
* Shares not included in calculation, as the effect of such shares would be
anti-dilutive
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