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Exhibit 11
CML GROUP, INC. AND SUBSIDIARIES
COMPUTATION OF EARNINGS (LOSS) PER SHARE
For the periods ended January 27, 1996
and January 28, 1995
Second Quarter Six Months
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1996 1995 1996 1995
------------ ------------ ------------ ------------
Primary earnings (loss) per share:,
Weighted average number of shares
outstanding:
Common 49,129,197 49,870,036 49,176,906 49,928,177
Shares deemed outstanding from the
assumed exercise of stock options
and from deferred compensation
awards 430,311 810,197 488,720 814,829
----------- ----------- ----------- -----------
Total 49,559,508 50,680,233 49,665,626 50,743,006
=========== =========== =========== ===========
Net income (loss) ($30,053,000) $41,678,000 ($45,071,000) $42,559,000
=========== =========== =========== ===========
Primary earnings (loss) per share ($0.61) $0.82 ($0.91) $0.84
=========== =========== =========== ===========
Fully diluted earnings (loss) per share:
Weighted average number of shares
outstanding, as above 49,559,508 50,680,233 49,665,626 50,743,006
Shares deemed outstanding from the
assumed conversion of convertible
subordinated debentures 1,604,877 2,110,453 1,604,877 2,164,551
Additional shares deemed outstanding
from the assumed exercise of
stock options -- 7,926 -- 3,963
----------- ----------- ----------- ------------
Total 51,164,385 52,798,612 51,270,503 52,911,520
=========== =========== =========== ============
Additional income from the elimination of
the interest cost of the convertible subord-
inated debentures, net of income tax effect $398,000 $510,000 $779,000 $1,031,000
Fully diluted earnings (loss) per share ($0.61) $0.80 ($0.91) $0.82
=========== =========== =========== ============
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