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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 June 18, 1998. (See Note 2
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,
1998 1997 1998 1997
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(DOLLARS IN THOUSANDS, EXCEPT PER SHARE DATA)
DILUTED
EARNINGS
Net Income $ (923) $ 1,700 $ 5,346 $ 8,469
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SHARES
Weighted average number of shares of common
shares 8,322 8,260 8,301 8,254
Assuming conversion of Class C Convertible
Preferred Stock 636 636 636
Dilutive effect of outstanding options 88 65 129
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Total common and common equivalent shares 8,322 8,984 9,002 9,019
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DILUTED (LOSS) EARNINGS PER SHARE $ (.11) $ .19 $ .59 $ .94
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BASIC
EARNINGS
Net Income $ (923) $ 1,700 $ 5,346 $ 8,469
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SHARES
Weighted average number of common shares 8,322 8,260 8,301 8,254
BASIC (LOSS) EARNINGS PER SHARE $ (.11) $ .21 $ .64 $ 1.03
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