**Exhibit 11**

 

 

 

INTERNATIONALMULTIFOODS CORPORATION AND SUBSIDIARIES

 

Computationof Earnings (loss) per Common Share

(unaudited)

 

(inthousands, except per share amounts)

 

 
| ** **                                                          |   | **THREE  MONTHS ENDED** |              |
|---------------------------------------------------------------------|--------|-------------------------|-------------------|
|                                                                |   | **June 1,  2002**       |              | **June 2,  2001** |   |
| Average shares of common stock  outstanding                         |   | 19,028                  |              | 18,762 |   |
| Dilutive  potential common shares                                   |   | 428                     |              | 210 |   |
| **Total adjusted average shares**                                   |   | **19,456**              | ** **        | **18,972** |   |
|                                                                |   |                    | ** **        |   |   |
| Earnings before cumulative effect  of changein accounting principle |   | $                       |  4,904       |   | $ |  2,086 |   |
| Cumulative effect of change inaccounting principle, net of tax      |   | (41,342                 | )                 | — |   |
| **Net earnings (loss) applicable to common stock**                  |   | **$**                   | ** (36,438** | **)** | **$** | ** 2,086** |   |
|                                                                |   |                    | ** **        |   |   |
| Basic earnings (loss) per share of  common stock:                   |   |                    |              |   |   |
| Before cumulative effect of change  inaccounting principle          |   | $                       |  .26         |   | $ |  .11 |   |
| **Cumulative effect of change in accounting principle**             |   | **(2.17**               | **)**             | **—** |   |
| Total                                                               |   | $                       |  (1.91       | ) | $ |  .11 |   |
|                                                                |   |                    | ** **        |   |   |
| Diluted earnings (loss) per share  of common stock:                 |   |                    |              |   |   |
| Before cumulative effect of change  inaccounting principle          |   | $                       |  .25         |   | $ |  .11 |   |
| **Cumulative effect of change in accounting principle**             |   | **(2.12**               | **)**             | **—** |   |
| Total                                                               |   | $                       |  (1.87       | ) | $ |  .11 |   |

 

Basicearnings (loss) per share are computed by dividing net earnings (loss) by theweighted average number of shares of common stock outstanding during theperiod.

 

Dilutedearnings per share are computed similar to basic earnings per share except thatthe weighted average shares outstanding are increased to include additionalshares from the assumed exercise of stock options, if dilutive.  The number of additional shares iscalculated by assuming that outstanding stock options were exercised and thatthe proceeds from such exercises were used to acquire shares of common stock atthe average market price during the period.

 

 

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