1
EXHIBIT 11
DREYER'S GRAND ICE CREAM, INC.
COMPUTATION OF NET INCOME PER COMMON SHARE
(unaudited)
Thirteen Weeks Ended
----------------------------------------------------
(in thousands, except per share amounts) April 1, 1995 March 26, 1994
------------- --------------
PRIMARY
Net income $ 322 $ 1,582
Weighted average number of shares of common
stock outstanding 13,971 14,698
--------- ---------
Net income per share, as reported $ .02 $ .11
========= ==========
Weighted average number of shares of common
stock outstanding 13,971 14,698
Common stock equivalent--assumed exercise of
common stock options 95 73
--------- ----------
Weighted average number of shares of common
stock outstanding, including common stock
equivalents 14,066 14,771
========= ==========
Net income per share $ .02(1) $ .11(1)
========= ==========
FULLY DILUTED
Net income $ 322 $ 1,582
Add interest expense on convertible subordinated
debentures issued June 1993, due June 2006 and
amortization of related issuance costs, net of tax 1,017 1,020
--------- ---------
Adjusted net income $ 1,339 $ 2,602
========= =========
Weighted average number of shares of common
stock outstanding 13,971 14,698
Common stock equivalent--assumed exercise of
common stock options 95 73
Assumed conversion of debentures 2,900 2,900
--------- ---------
Adjusted shares 16,966 17,671
========= ==========
Net income per share $ .08(2) $ .15(2)
========= ==========
(1) This calculation is submitted in accordance with Regulation S-K item
601(b)(11) although it is not required by footnote 2 to paragraph 14 of
APB Opinion No. 15 because it results in dilution of less than 3%.
(2) This calculation is submitted in accordance with Regulation S-K item
601(b)(11) although it is contrary to APB Opinion No. 15 because it
produces an anti-dilutive effect.