1 EXHIBIT NO. 11 STUART ENTERTAINMENT, INC. AND SUBSIDIARIES STATEMENT REGARDING COMPUTATION OF PER SHARE EARNINGS (Dollars In Thousands, Except Per Share Amounts) (UNAUDITED) Three Months Ended March 31, ------------------------- 1996 1995 ----- ------- Shares of common stock outstanding at beginning of period (1) 6,697 6,539 Weighted-average shares issued during the period 19 56 Weighted-average shares assumed issued under stock option plans and exercise of warrants during the period (assuming the treasury stock method) 99 82 ----- ----- Average common and common equivalent shares outstanding 6,815 6,677 ===== ===== Net income $ 918 $ 238 ===== ===== Earnings per share $0.13 $0.04 ===== ===== (1) This represents total outstanding shares of common stock less treasury shares. See Note 2 of Notes to Consolidated Financial Statements. See Notes to Consolidated Financial Statements in Part I.