1
EXHIBIT NO. 11
COMPUTATION OF EARNINGS PER COMMON SHARE
FABRI-CENTERS OF AMERICA, INC.
(THOUSANDS OF DOLLARS, EXCEPT SHARE AND PER SHARE DATA)
THIRTEEN WEEKS ENDED
-------------------------------
APRIL 27, APRIL 29,
1996 1995
- ------------------------------------------------------------------------------------------------------------------------
PRIMARY EARNINGS PER SHARE:
Net earnings $ 1,070 $ 278
============= ============
Weighted average shares of common stock outstanding during the period 18,268,965 18,371,462
Incremental shares from assumed exercise of stock options - primary 541,043 565,160
------------- ------------
18,810,008 18,936,622
============= ============
Net earnings per common share - primary $ 0.06 $ 0.01
============= ============
EARNINGS PER SHARE ASSUMING FULL DILUTION:
Net earnings $ 1,070 $ 278
Interest expense applicable to 6 1/4% convertible
subordinated debentures, net of tax 556 548
------------- ------------
Net earnings $ 1,626 $ 826
============= ============
Weighted average shares of common stock outstanding during the period 18,268,965 18,371,462
Incremental shares from assumed exercise of stock options - fully diluted 561,575 643,892
Incremental shares from assumed conversion of 6 1/4% convertible
subordinated debentures 2,337,764 2,337,764
------------- ------------
21,168,304 21,353,118
============= ============
Net earnings per common share assuming full dilution $ 0.08 (a) $ 0.04 (a)
============= ============
<FN>
(a) This calculation is submitted in accordance with Regulation S-K Item
601(b)(11) although it is contrary to paragraph 40 of APB Opinion No. 15,
because it produces an anti-dilutive result.
Note: The number of shares for the periods ended April 29, 1995 have been
restated to give effect to the Company's recapitalization amendment,
which has been accounted for as if it were a two-for-one stock split.
Page 12