EXHIBIT 11
OLYMPIC CASCADE FINANCIAL CORPORATION
COMPUTATION OF EARNINGS PER SHARE
Basic
September 24, September 25, September 26,
1999 1998 1997
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Net income (loss) ......................................... $ 118,000 ($4,666,000) $ 101,000
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Weighted average number of common
shares outstanding during the year .................. 1,563,499 1,496,634 1,195,403
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Basic earnings per share .................................. $ 0.08 ($ 3.12) $ 0.08
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Diluted
Weighted average number of common
shares outstanding during the year ................... 1,563,499 1,496,634 1,195,403
Add common equivalent shares upon exercise of stock options * * 229,716
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Weighted average number of shares used
in calculation of primary earnings per share ......... 1,563,499 1,496,634 1,425,119
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Diluted earnings per share ................................ $ 0.08 ($ 3.12) $ 0.07
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* No effect given to common stock equivalents, as their effect would be
anti-dilutive.