1
EXHIBIT 11
CML GROUP, INC. AND SUBSIDIARIES
COMPUTATION OF EARNINGS PER SHARE
Second Quarter Six Months
----------------- -----------------
1994 1993 1994 1993
---- ---- ---- ----
Primary earnings per share:
Weighted average number of shares
outstanding:
Common 50,608,727 50,419,488 50,601,622 49,523,620
Shares deemed outstanding from the
assumed exercise of stock options
and from deferred compensation
awards 1,219,259 1,586,350 1,293,658 2,433,864
----------- ----------- ----------- -----------
Total 51,827,986 52,005,838 51,895,280 51,957,484
=========== =========== =========== ===========
Net income $38,302,000 $32,538,000 $45,443,000 $38,281,000
=========== =========== =========== ===========
Primary earnings per share $0.74 $0.63 $0.88 $0.74
===== ===== ===== =====
Fully diluted earnings per share:
Weighted average number of shares
outstanding, as above 51,827,986 52,005,838 51,895,280 51,957,484
Shares deemed outstanding from the
assumed conversion of convertible
subordinated debentures 2,218,649 -- 2,218,649 --
Additional shares deemed outstanding
from the assumed exercise of
stock options -- 27,734 113,314 104,276
----------- ----------- ----------- -----------
Total 54,046,635 52,033,572 54,227,243 52,061,760
=========== =========== =========== ===========
Additional income from the elimination of
the interest cost of the convertible subord-
inated debentures, net of income tax effect $ 512,000 $ -- $ 1,026,000 $ --
Fully diluted earnings per share $0.72 $0.63 $0.86 $0.74
===== ===== ===== =====
16