EX-11.1 2 h36023exv11w1.htm COMPUTATION OF PER SHARE EARNINGS exv11w1
 

EXHIBIT 11.1
CARRIAGE SERVICES, INC.
COMPUTATION OF PER SHARE EARNINGS
(unaudited and in thousands, except per share data)
     Earnings per share for the three month periods ended March 31, 2005 and 2006 is calculated based on the weighted average number of common and common equivalent shares outstanding during the periods as prescribed by SFAS 128. The following table sets forth the computation of the basic and diluted earnings per share for the three month periods ended March 31, 2005 and 2006:
                 
    Three months  
    ended March 31,  
    2005     2006  
Income (loss) from continuing operations available to common stockholders
   $ (1,378 )   $ 1,486  
Income (loss) from discontinued operations available to common stockholders
     574       (3,221 )
Change in accounting method
     (22,756 )     —  
Effect of dilutive securities
     —       —  
 
            
Net Loss available to common stockholders
   $ (23,560 )   $ (1,735 )
 
            
 
                
Weighted average number of common shares outstanding for basic EPS computation
     18,127       18,484  
 
                
Effect of dilutive securities:
                
Stock options
     —       390  
 
            
Weighted average number of common and common equivalent shares outstanding for diluted EPS computation
     18,127       18,874  
 
            
 
                
Basic earnings (loss) per common share:
                
Continuing operations
   $ (0.08 )   $ 0.08  
Discontinued operations
   $ 0.04     $ (0.17 )
Cumulative effect of change in accounting method
   $ (1.26 )   $ —  
 
            
Net Loss
   $ (1.30 )   $ (0.09 )
 
            
 
                
Diluted earnings (loss) per common share:
                
Continuing operations
   $ (0.08 )   $ 0.08  
Discontinued operations
   $ 0.04     $ (0.17 )
Cumulative effect of change in accounting method
   $ (1.26 )   $ —  
 
            
Net Loss
   $ (1.30 )   $ (0.09 )
 
            
     Options to purchase $0.1 million shares were not included in the computation of diluted earnings per share for the three month period ending March 31, 2006, because the effect would be antidilutive. Options to purchase 1.5 million shares were not included in the computation of diluted earnings per share for the periods ending March 31, 2005, because the effect would be antidilutive.
     The convertible junior subordinated debenture is convertible into 4.6 million shares of common stock and is not included in the computation of diluted earnings per share because the effect would be antidilutive.