1 EXHIBIT 11 CML GROUP, INC. AND SUBSIDIARIES COMPUTATION OF EARNINGS PER SHARE For the periods ended October 29, 1994 and October 30, 1993 Three Months Ended -------------------------------- Oct. 29, 1994 Oct. 30, 1993 ------------- ------------- Primary earnings per share: Weighted average number of shares outstanding: Common 49,985,787 50,594,517 Shares deemed outstanding from the assumed exercise of stock options and from deferred compensation awards 818,650 1,368,056 ----------- ----------- Total 50,804,437 51,962,573 =========== =========== Net income $ 881,000 $ 7,141,000 =========== =========== Primary earnings per share $0.02 $0.14 =========== =========== Fully diluted earnings per share: Weighted average number of shares outstanding, as above 50,804,437 51,962,573 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 -- 78,328 ----------- ----------- Total 53,023,086 54,259,550 =========== =========== Additional income from the elimination of the interest cost of the convertible subordinated debentures, net of income tax effect $ 512,407 $ 512,407 Fully diluted earnings per share $0.02 $0.14 =========== =========== 15