1 EXHIBIT 11.1 D.I.Y. HOME WAREHOUSE, INC. FORM 10-K COMPUTATION OF EARNINGS PER COMMON SHARE Three Months Ended Fiscal Year Ended January 3, December 28, January 3, December 28, 1998 1996 1998 1996 ---------- ---------- ---------- ---------- (Unaudited) ----------- Income applicable to common shares $ 109,674 $ 676,831 $2,872,070 $3,785,186 ========== ========== ========== ========== Weighted average common shares outstanding for the period 7,633,859 7,630,685 7,633,825 7,626,702 Dilutive effect of exercise of stock options - - - - ---------- ---------- ---------- ---------- Weighted average common shares, assuming issuance of the above securities 7,633,859 7,630,685 7,633,825 7,626,702 ========== ========== ========== ========== Earnings per common share: Basic $ 0.01 $ 0.09 $ 0.38 $ 0.50 Diluted $ 0.01 $ 0.09 $ 0.38 $ 0.50