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 TWENTY-SIX WEEKS ENDED
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AUGUST 2, JULY 27, AUGUST 2, JULY 27,
1997 1996 1997 1996
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PRIMARY EARNINGS (LOSS) PER COMMON
SHARE:
Net earnings (loss) before extraordinary item $ (1,003) $ (2,416) $ 1,605 $ (1,346)
Extraordinary loss on debt prepayment (1,136) -- (1,136) --
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Net earnings (loss) $ (2,139) $ (2,416) $ 469 $ (1,346)
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Weighted average shares of common stock outstanding
during the period 18,336,452 17,775,272 18,180,378 18,022,119
Incremental shares from assumed exercise of stock
options - primary 1,371,273 642,710 1,289,344 591,876
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19,707,725 18,417,982 19,469,722 18,613,995
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Net earnings (loss) before extraordinary item
per common share $ (0.05) $ (0.13) $ 0.08 $ (0.07)
Extraordinary loss on debt prepayment
per common share (0.06) -- (0.06) --
------------ ------------ ------------ ------------
Net earnings (loss) per common share--primary $ (0.11) $ (0.13) $ 0.02 $ (0.07)
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EARNINGS (LOSS) PER COMMON SHARE
ASSUMING FULL DILUTION (a):
Net earnings (loss) before extraordinary item $ (1,003) $ (2,416) $ 1,605 $ (1,346)
Interest expense applicable to 6 1/4% convertible
subordinated debentures, net of tax 337 556 893 1,113
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Net earnings (loss) before extraordinary item
and debenture interest (666) (1,860) 2,498 (233)
Extraordinary loss on debt prepayment (1,136) -- (1,136) --
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Net earnings (loss) before debenture interest $ (1,802) $ (1,860) $ 1,362 $ (233)
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Weighted average shares of common stock outstanding
during the period 18,336,452 17,775,272 18,180,378 18,022,119
Incremental shares from assumed exercise of stock
options - fully diluted 1,404,443 670,868 1,344,700 670,868
Incremental shares from assumed conversion of 6 1/4%
convertible subordinated debentures 1,558,509 2,337,904 1,948,137 2,337,764
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21,299,404 20,783,904 21,473,215 21,030,751
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Net earnings (loss) before extraordinary item per share
assuming full dilution $ (0.03) $ (0.09) $ 0.12 $ (0.01)
Extraordinary loss on debt prepayment per share (0.05) -- (0.05) --
------------ ------------ ------------ ------------
Net earnings (loss) per common share
assuming full dilution $ (0.08)(a) $ (0.09)(a) $ 0.06(a) $ (0.01)(a)
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<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.