EX-11.1 2 c90253exv11w1.htm COMPUTATION OF NET EARNINGS (LOSS) PER SHARE exv11w1
 

EXHIBIT 11.1

PAYLESS SHOESOURCE, INC. AND SUBSIDIARIES
COMPUTATION OF NET EARNINGS (LOSS) PER SHARE
(UNAUDITED)

                                 
    13 Weeks Ended
   39 Weeks Ended
(dollars and shares in thousands, except per share)   October 30, 2004
   November 1, 2003
   October 30, 2004
   November 1, 2003
Diluted Computation:
                                
Net earnings (loss)
   $ 6,564     $ (2,168 )   $ 24,027     $ 17,107  
Weighted average common shares outstanding
     68,004       68,050       67,975       68,020  
Net effect of dilutive stock options and unearned restricted stock based on the treasury stock method
     35       —       60       46  
 
    
 		      
 		      
 		      
 		  
Outstanding shares for diluted earnings (loss) per share
     68,039       68,050       68,035       68,066  
 
    
 		      
 		      
 		      
 		  
Diluted earnings (loss) per share
   $ 0.10     $ (0.03 )   $ 0.35     $ 0.25  
 
    
 		      
 		      
 		      
 		  
Basic Computation:
                                
Net earnings (loss)
   $ 6,564     $ (2,168 )   $ 24,027     $ 17,107  
Weighted average common shares outstanding
     68,004       68,050       67,975       68,020  
 
    
 		      
 		      
 		      
 		  
Basic earnings (loss) per share
   $ 0.10     $ (0.03 )   $ 0.35     $ 0.25  
 
    
 		      
 		      
 		      
 		  

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 (loss) per share include the effect of conversions of stock options and unearned restricted stock. The calculation of diluted earnings (loss) per share for the thirteen-week and thirty-nine-week periods ended October 30, 2004, excludes the impact of 7,898,570 and 7,895,231 stock options, respectively, because to include them would be anti-dilutive.

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