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EXHIBIT 11
INTERNATIONAL MULTIFOODS CORPORATION AND SUBSIDIARIES
Computation of Earnings (Loss) per Common Share
(unaudited)
(in thousands, except per share amounts)
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THREE MONTHS ENDED SIX MONTHS ENDED
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Aug. 26, Aug. 31, Aug. 26, Aug. 31,
2000 1999 2000 1999
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<S> <C> <C> <C> <C>
Average shares of
common stock outstanding 18,740 18,749 18,738 18,752
Dilutive potential common shares 144 99 83 95
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Total adjusted average shares 18,884 18,848 18,821 18,847
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Earnings from continuing operations $5,279 $ 5,091 $10,029 $ 9,653
Loss from discontinued operations - (11,760) - (19,560)
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Net earnings (loss) applicable
to common stock $5,279 $(6,669) $10,029 $(9,907)
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Basic earnings (loss) per share:
Continuing operations $ .28 $ .27 $ .54 $ .51
Discontinued operations - (.63) - (1.04)
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Total $ .28 $ (.36) $ .54 $ (.53)
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Diluted earnings (loss) per share:
Continuing operations $ .28 $ .27 $ .53 $ .51
Discontinued operations - (.62) - (1.04)
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Total $ .28 $ (.35) $ .53 $ (.53)
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Basic earnings (loss) per share are computed by dividing net earnings (loss) by
the weighted average number of shares of common stock outstanding during the
period.
Diluted earnings per share are computed similar to basic earnings per share
except that the weighted average shares outstanding are increased to include
additional shares from the assumed exercise of stock options, if dilutive. The
number of additional shares is calculated by assuming that outstanding stock
options were exercised and the proceeds from such exercises were used to acquire
shares of common stock at the average market price during the period.
