EX-11.1 5 exh11_1.htm EXH. 11.1 COMPUTATION OF EARNINGS PER SHARE-DILUTED exh11_1.htm
 
 
CPI CORP. COMPUTATION OF (LOSS) INCOME PER SHARE - DILUTED
FISCAL YEARS ENDED FEBRUARY 7, 2009, FEBRUARY 2, 2008 AND FEBRUARY 3, 2007
 
 

 
                 
in thousands except share and per share data  
2008
    
2007
    
2006
  
                   
Common shares outstanding at beginning of fiscal period
     17,028,315       16,975,343       18,569,964  
Shares issued during the period - weighted average
     40,928       34,917       45,501  
Retirement of common shares acquired through Dutch Auction self-tender offer - weighted average
     -       -       (1,644,938 ) 
Shares issuable under employee stock plans - weighted average
     -  
 (a)
   2,973       941  
Dilutive effect of exercise of certain stock options
     -  
 (a)
   21,772       21,793  
                         
Less: Treasury stock - weighted average     (10,559,403 )     (10,619,299 )     (10,617,552 )
                         
Weighted average number of common and common equivalent shares
     6,509,840       6,415,706       6,375,709  
                         
Net (loss) income applicable to common shares:
                        
From continuing operations
   $ (6,724 )   $ 4,017     $ 16,430  
From discontinued operations
     (961 )     (441 )     (103 )
                         
Net (loss) income
   $ (7,685 )   $ 3,576     $ 16,327  
                         
Net (loss) income per common and common equivalent shares:
                        
From continuing operations
   $ (1.03 )   $ 0.63     $ 2.58  
From discontinued operations
     (0.15 )     (0.07 )     (0.02 )
                         
Earnings per common share
   $ (1.18 )   $ 0.56     $ 2.56  
                         
 

(a)
  
The effect of stock options in the amount of 10,203 shares and 2,061 shares issuable under employee stock plans were not considered as the effect is antidilutive.