EX-11.1 2 dcarver_ex11-1.txt COMPUTATION OF NET INCOME PER SHARE EXHIBIT 11 COMPUTATION OF NET INCOME PER SHARE FOR THREE AND SIX MONTHS ENDED SEPTEMBER 30, 2004 AND 2003 (UNAUDITED) (IN THOUSANDS, EXCEPT SHARE DATA)
THREE MONTHS ENDED SIX MONTHS ENDED SEPTEMBER 30, SEPTEMBER 30, -------------------------- -------------------------- 2004 2003 2004 2003 ----------- ----------- ----------- ----------- EARNINGS PER COMMON SHARE - BASIC Net income $ 255 $ 1,426 $ 1,337 $ 2,513 Preferred dividends (49) (49) (98) (98) ----------- ----------- ----------- ----------- Net income - basic $ 206 $ 1,377 $ 1,239 $ 2,415 ----------- ----------- ----------- ----------- Weighted average common shares outstanding - basic 2,291,761 2,289,308 2,288,190 2,292,121 ----------- ----------- ----------- ----------- Earning per common share - basic $ 0.09 $ 0.60 $ 0.54 $ 1.05 =========== =========== =========== =========== EARNINGS PER COMMON SHARE - DILUTED Net income - basic $ 206 $ 1,377 $ 1,239 $ 2,415 Preferred dividends 49 49 98 98 ----------- ----------- ----------- ----------- Net income- diluted $ 255 $ 1,426 $ 1,337 $ 2,513 ----------- ----------- =========== =========== Weighted average common shares outstanding - basic 2,291,761 2,289,308 2,288,190 2,292,121 Effect of dilutive securities - convertible preferred stock 208,333 208,333 208,333 208,333 Effect of dilutive securities - options 89,018 81,384 97,017 71,554 ----------- ----------- ----------- ----------- Weighted average shares outstanding - diluted 2,589,112 2,579,025 2,593,540 2,572,008 ----------- ----------- =========== =========== Earning per common share-diluted $ 0.09 $ 0.55 $ 0.51 $ 0.98 =========== =========== =========== ===========
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