EX-11 3 d207888_ex11.txt COMPUTATION OF NET INCOME PER SHARE EXHIBIT 11
COMPUTATION OF NET INCOME PER SHARE FOR THREE AND NINE MONTHS ENDED DECEMBER 31, 2003 AND 2002 (Unaudited) (In thousands, except share data) THREE MONTHS ENDED NINE MONTHS ENDED DECEMBER 31, DECEMBER 31, --------------------------------- --------------------------- 2003 2002 2003 2002 ---------------- ---------------- ------------ ------------- Earnings per common share - basic --------------------------------- Net income $1,236 $947 $3,749 $2,757 Preferred dividends (49) (49) (148) (148) ---------------- ---------------- ------------ ------------- Net income - basic $1,187 $898 $3,601 $2,609 ---------------- ---------------- ------------ ------------- Weighted average common shares outstanding - basic 2,282,369 2,290,354 2,284,066 2,289,786 ---------------- ---------------- ------------ ------------- Earning per common share - basic $0.52 $0.39 $1.58 $1.14 ================ ================ ============ ============= Earnings per common share - diluted ----------------------------------- Net income - basic $1,187 $898 $3,601 $2,609 Preferred dividends 49 49 148 148 ---------------- ---------------- ------------ ------------- Net income- diluted $1,236 $947 $3,749 $2,757 ---------------- ---------------- ------------ ------------- Weighted average common shares outstanding - basic 2,282,369 2,290,354 2,284,066 2,289,786 Effect of dilutive securities - convertible preferred stock 208,333 208,333 208,333 208,333 Effect of dilutive securities - options 112,358 18,671 86,598 24,068 ---------------- ---------------- ------------ ------------- Weighted average shares outstanding - diluted 2,603,060 2,517,358 2,578,997 2,522,187 ---------------- ---------------- ------------ ------------- Earning per common share-diluted $0.47 $0.38 $1.45 $1.09 ================ ================ ============ =============