1 MONRO MUFFLER BRAKE, INC. & SUBSIDIARY Exhibit 11.01 COMPUTATION OF PER SHARE EARNINGS - - -------------------------------------------------------------------------------- Net income per share was computed by dividing net income by the weighted average number of common and common equivalent shares outstanding. YEAR ENDED MARCH 31, 1997 1996 1995 ---- ---- ---- (DOLLARS IN THOUSANDS, EXCEPT PER SHARE DATA) EARNINGS Net income available to common shares $10,191 $7,614 $9,084 ======= ====== ====== SHARES Weighted average number of common shares 7,426 7,210 7,082 Assuming conversion of Class C Convertible Preferred Stock 576 576 576 Dilutive effect of outstanding options 169 291 426 ------- ------ ------ Total common and common equivalent shares 8,171 8,077 8,084 ======= ====== ====== EARNINGS PER SHARE $ 1.25 $ .94 $ 1.12 ======= ====== ====== 71