EXHIBIT 11.1
THE FAILURE GROUP, INC. AND SUBSIDIARIES
STATEMENT REGARDING COMPUTATION OF
NET INCOME PER SHARE
FOR THE THREE MONTHS ENDED APRIL 4, 1997 AND MARCH 29, 1996
(IN THOUSANDS, EXCEPT PER SHARE DATA)
Quarters Ended(1)
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April 4, March 29
1997 1996
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Weighted average shares issued and outstanding-
Common stock......................................... 6,806 6,633
Common stock equivalents-options and awards(2)........... 132 -
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Weighted average number of common shares................. 6,938 6,633
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Net income............................................... $ 1,171 $ 646
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Net income per share..................................... $ .17 $ .10
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(1) The modified treasury stock method was used as shares obtainable
exceeded 20% of the Common Stock outstanding at the end of the period.
The assumed reduced interest expense resulting from the application of
this method is immaterial.
(2) The dilutive impact of options and awards determined using the
fully-diluted calculation is not materially different from the dilutive
impact represented in this statement determined using the primary
calculation.
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