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EXHIBIT 11
INGLES MARKETS, INCORPORATED Page 1 of 2
AND SUBSIDIARIES
COMPUTATION OF EARNINGS PER COMMON SHARE *
THREE MONTHS ENDED
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MARCH 30, MARCH 25,
1996 1995
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PRIMARY:
Net income $ 4,430,707 $ 2,187,131
=========== ===========
Shares
Weighted average number of common shares
and common stock equivalent shares
outstanding 18,474,353 18,289,829
=========== ===========
Primary earnings per common share $ .24 $ .12
=========== ===========
FULLY DILUTED:
Net income $ 4,430,707 $ 2,187,131
Add after tax and bonus effect of interest
expense applicable to Convertible
Subordinated Debentures 514,039 530,097
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Fully diluted earnings $ 4,944,746 $ 2,717,228
=========== ===========
Shares
Weighted average number of common
shares and common stock equivalent
shares outstanding 18,545,893 18,289,829
Additional shares assuming conversion
of Convertible Subordinated Debentures 3,374,685 3,374,685
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Weighted average number of common
shares outstanding as adjusted 21,920,578 21,664,514
=========== ===========
Fully diluted earnings per common share** $ .23 $ .12
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* See note B of the notes to unaudited interim financial statements.
** The effect for the three month period ended March 25, 1995 of the
conversion of the Convertible Subordinated Debentures was
anti-dilutive and therefore the conversion was not assumed in the
fully diluted calculation for this period.
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EXHIBIT 11
INGLES MARKETS, INCORPORATED Page 2 of 2
AND SUBSIDIARIES
COMPUTATION OF EARNINGS PER COMMON SHARE *
SIX MONTHS ENDED
----------------
MARCH 30, MARCH 25,
1996 1995
------------ ------------
PRIMARY:
Net income $ 9,152,823 $ 6,024,919
=========== ===========
Shares
Weighted average number of common shares
and common stock equivalent shares
outstanding 18,425,683 18,321,171
=========== ===========
Primary earnings per common share $ .50 $ .33
=========== ===========
FULLY DILUTED:
Net Income $ 9,152,823 $ 6,024,919
Add after tax and bonus effect of interest
expense applicable to Convertible
Subordinated Debentures 1,028,078 1,058,209
----------- -----------
Fully diluted earnings $10,180,901 $ 7,083,128
=========== ===========
Shares
Weighted average number of common
shares and common stock equivalent
shares outstanding 18,542,644 18,321,171
Additional shares assuming conversion
of Convertible Subordinated Debentures 3,374,685 3,374,685
----------- -----------
Weighted average number of common
shares outstanding as adjusted 21,917,329 21,695,856
=========== ===========
Fully diluted earnings per common share $ .46 $ .33
=========== ===========
* See note B of the notes to unaudited interim financial statements.
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