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EXHIBIT 11.1
GC COMPANIES, INC.
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Computation of weighted average number of shares outstanding used in
determining primary and fully diluted earnings per share:
(In thousands) Nine Months Three Months
Ended July 31, Ended July 31,
1997 1996 1997 1996
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PRIMARY
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1. Weighted average number of common
shares outstanding 7,735 7,816 7,705 7,816
2. Assumed exercise of certain stock
options based on average
market value 40 35 49 36
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3. Weighted average number of shares
used in primary per share
computations 7,775 7,851 7,754 7,852
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FULLY DILUTED (A)
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1. Weighted average number of common
shares outstanding 7,735 7,816 7,705 7,816
2. Assumed exercise of all dilutive
options based on higher of
average or closing market value 43 37 49 38
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3. Weighted average number of shares
used in fully diluted per share
computations 7,778 7,853 7,754 7,854
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(A) This calculation is submitted in accordance with the Securities Exchange
Act of 1934 Release No. 9083 although not required by Footnote 2 to
Paragraph 14 of APB Opinion No. 15 because it results in dilution of less
than 3%.