EXHIBIT 11 FISHER COMPANIES INC. COMPUTATION OF PER SHARE EARNINGS Nine Months Ended Three Months Ended September 30 September 30 1998 1997 1998 1997 Weighted average common shares outstanding during the period: 8,540,073 8,533,775 8,542,162 8,535,299 Dilutive effect of: Restricted stock rights 15,969 24,338 15,834 25,492 Stock options 19,468 19,237 22,063 25,305 ----------- ----------- ----------- ----------- Weighted average shares outstanding assuming dilution 8,575,510 8,577,350 8,580,059 8,586,096 =========== =========== ========== ========== Net income $14,024,000 $16,315,000 $4,092,000 $5,399,000 =========== =========== ========== ========== Net income per common share $1.64 $1.91 $.48 $.63 ===== ===== ==== ==== Net income per common share assuming dilution $1.64 $1.90 $.48 $.63 ===== ===== ==== ==== Share amounts have been restated to reflect the two-for-one stock split that was effective March 6, 1998. 1