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Exhibit 11.1
AU BON PAIN CO., INC.
EARNINGS PER SHARE COMPUTATION
(in thousands, except per share amounts)
FOR THE FISCAL YEARS ENDED
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Dec. 31, Dec. 30, Dec. 28,
1994 1995 1996
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Net income (loss)................. $ 7,841 $(1,614) $(4,365)
Weighted number of average shares
outstanding:
Common stock outstanding,
beginning of period
Class B Common............. 1,916 1,732 1,707
Class A Common............. 9,155 9,828 9,929
Class B Preferred stock
outstanding.................. - 20 20
Weighted average common stock
issued during the period:
Class A Common................. 341 41 49
Weighted average preferred stock
issued during the period:
Class B Preferred.............. 15 - -
Weighted shares issued from
assumed exercise of options...... 197 - -
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Weighted average shares and
equivalent shares outstanding.... 11,624 11,621 11,705
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Income (loss) per common and
common equivalent share.......... $ .67 $ (.14) $ (.37)
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The above schedule represents the calculation of both primary and fully diluted
earnings per share.
The effect of shares to be issued upon the conversion of the 1993 Notes would be
antidilutive fiscal years ended December 30, 1995 and December 28, 1996.
Accordingly, the Company excluded the effect of these shares in computing income
per common share for these years.