Exhibit 11.1
PAYLESS SHOESOURCE, INC.
COMPUTATION OF NET EARNINGS PER SHARE FROM CONTINUING OPERATIONS
FOR THE LAST THREE FISCAL YEARS
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(Thousands, except per share data)
Jan. 28, Jan. 29, Jan. 31,
2006 2005 2004
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Basic Computation:
Net earnings from continuing operations $74,228 $35,147 $16,942
Weighted average common shares outstanding 67,520 67,947 67,852
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Basic earnings per share from continuing operations $ 1.09 $ 0.52 $ 0.25
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Diluted Computation:
Net earnings from continuing operations $74,228 $35,147 $16,942
Weighted average common shares outstanding 67,520 67,947 67,852
Net effect of dilutive stock options and restricted stock
based on the treasury stock method 334 73 179
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Outstanding shares for diluted earnings per share 67,854 68,020 68,031
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Diluted earnings per share from continuing operations $ 1.09 $ 0.52 $ 0.25
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