1 EXHIBIT NO. 11 STUART ENTERTAINMENT, INC. AND SUBSIDIARIES STATEMENT REGARDING COMPUTATION OF PER SHARE EARNINGS (Amounts In Thousands, Except Per Share Amounts) (UNAUDITED) Three Months Ended Six Months Ended June 30, June 30, ----------------- --------------- 1996 1995 1996 1995 ------ ------ ------ ------ Shares of common stock outstanding at beginning of period (1) 6,717 6,594 6,697 6,539 Weighted-average shares issued during the period 24 37 32 74 Weighted-average shares assumed issued under stock option plans and exercise of warrants during the period (assuming the treasury stock method) 118 45 108 64 ------ ------ ------ ------ Average common and common equivalent shares outstanding 6,859 6,676 6,837 6,677 ====== ====== ====== ====== Net income (loss) $ 874 $ (521) $1,792 $ (283) ====== ====== ====== ====== Earnings (loss) per share $ 0.13 $(0.08) $ 0.26 $(0.04) ====== ====== ====== ====== (1) This represents total outstanding shares of common stock less treasury shares. See Notes to Consolidated Financial Statements. 22