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MONRO MUFFLER BRAKE, INC. Exhibit 11
STATEMENT OF COMPUTATION OF PER SHARE EARNINGS
Earnings per share for each period was computed by dividing net
income for such period by the weighted average number of shares of Common Stock
and common stock equivalents outstanding during such period. All share data have
been restated to reflect the 5% stock dividend paid August 4, 1997. (See Note 1
of Notes to Consolidated Financial Statements). Calculations reflect the
adoption of the provisions of Financial Accounting Standards ("FAS") No. 128,
"Earnings per Share" effective for periods ending after December 15, 1997.
QUARTER ENDED NINE MONTHS ENDED
DECEMBER 31, DECEMBER 31,
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1997 1996 1997 1996
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(DOLLARS IN THOUSANDS, EXCEPT PER SHARE DATA)
EARNINGS
Net Income $1,700 $1,609 $8,469 $8,730
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SHARES - BASIC
Weighted average number of shares of Common
Stock 7,867 7,843 7,861 7,782
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BASIC EARNINGS PER SHARE $ .22 $ .21 $ 1.08 $ 1.12
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SHARES - DILUTED
Weighted average number of shares of Common
Stock 7,867 7,843 7,861 7,782
Assumed conversion of Class C Convertible
Preferred Stock 605 605 605 605
Dilutive effect of outstanding options 85 121 124 189
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Weighted average number of common and common
equivalent shares 8,557 8,569 8,590 8,576
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DILUTED EARNINGS PER SHARE $ .20 $ .19 $ .99 $ 1.02
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