EXHIBIT 11
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J. BAKER, INC. AND SUBSIDIARIES
COMPUTATION OF NET EARNINGS PER COMMON SHARE*
(UNAUDITED)
QUARTERS ENDED NINE MONTHS ENDED
OCTOBER 30, OCTOBER 31, OCTOBER 30, OCTOBER 31,
1999 1998 1999 1998
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Net Earnings Per Common Share:
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Net earnings, basic and diluted $ 1,429,355 $ 736,682 $ 5,783,373 $ 3,847,190
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Weighted average common
shares outstanding, basic 14,066,729 14,061,928 14,065,628 13,987,131
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Effect of dilutive securities:
Stock options, warrants and performance
share awards 525,936 112,517 293,595 167,046
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Weighted average common
shares outstanding, diluted 14,592,665 14,174,445 14,359,223 14,154,177
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Net earnings per common share, basic $ 0.10 $ 0.05 $ 0.41 $ 0.28
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Net earnings per common share, diluted $ 0.10 $ 0.05 $ 0.40 $ 0.27
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* This calculation is submitted in accordance with Item 601(b)(11) of
Regulation S-K.