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EXHIBIT 11
DREYER'S GRAND ICE CREAM, INC.
COMPUTATION OF NET INCOME PER COMMON SHARE
(unaudited)
Thirteen Weeks Ended Twenty-Six Weeks Ended
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(in thousands, except per share amount) June 29, 1996 July 1, 1995 June 29, 1996 July 1, 1995
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PRIMARY
Net income applicable to common stock $ 3,771 $ 3,664 $ 4,205 $ 3,986
Weighted average number of shares of common
stock outstanding 13,335 13,387 13,155 13,679
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Net income per share, as reported $ .28(1) $ .27(2) $ .32(1) $ .29(2)
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FULLY DILUTED
Net income applicable to common stock $ 3,771 $ 3,664 $ 4,205 $ 3,986
Add interest expense on convertible
subordinated debentures issued June 1993,
and amortization of related issuance costs,
net of tax 1,020 2,037
Add preferred dividends on redeemable
convertible Series B preferred stock, due
June 2001, and accretion of preferred stock
to redemption value 1,249 2,499
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Adjusted net income $ 5,020 $ 4,684 $ 6,704 $ 6,023
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Weighted average number of shares of common
stock outstanding 13,335 13,387 13,155 13,679
Common stock equivalent--assumed exercise of
common stock options 464 437 394 437
Assumed conversion of debentures 2,900 2,900 2,900 2,900
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Adjusted shares 16,699 16,724 16,449 17,016
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Net income per common share $ .30(3) $ .28(3) $ .41(3) $ .35(3)
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(1) The number of shares of the Company's common stock obtainable upon
exercise of outstanding options and warrants exceeded 20% of the number of
common shares outstanding at the end of the period. However, the
calculation of net income per common share using the modified treasury
stock method as required by paragraph 38 of APB Opinion No. 15 is not
submitted because it results in dilution of less than 3%.
(2) The calculation of net income per common share required by footnote 2 to
paragraph 14 of APB Opinion No. 15 is not submitted because it results in
a dilution of less than 3%.
(3) 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.