EX-11.1 10 dex111.txt STATEMENT RE COMPUTATION OF PER SHARE EARNINGS Exhibit 11.1 Statement Regarding Calculation of (Losses) Earnings Per Share
Basic Diluted Net EPS number EPS number Income Basic Diluted of shares of shares (loss) EPS EPS ------------------------------------------------------------ Twelve Months ended December 31, 1999 8,953,717 9,596,490 $ 3,706,292 $ 0.41 $ 0.39 Twelve Months ended December 31, 2000 8,990,605 9,684,752 $ 5,201,446 $ 0.58 $ 0.54 Twelve Months ended December 31, 2001 9,203,224 9,203,224 $(2,534,691) $(0.28) $(0.28) Twelve Months ended December 31, 1999 Basic Diluted --------- ----------- Average Shares Outstanding 8,953,717 8,953,717 Options - Plan 1 34,477 Average Option Price $ 2.30 Total Exercise Cost $ 79,297 Shares Repurchased 5,526 Net Shares from Option - Plan 1 28,951 Options - Plan 2 217,521 Average Option Price $ 2.55 Total Exercise Cost $ 554,679 Shares Repurchased 38,654 Net Shares from Option - Plan 2 178,867 Options - Plan 3 553,240 Average Option Price $ 5.63 Total Exercise Cost $3,114,741 Shares Repurchased 217,055 Net Shares from Option - Plan 3 336,185 Option - EFA Non-qualified 83,959 Total Exercise Cost $ 844,628 Average Option Price $ 10.06 Shares Repurchased 58,859 Net Shares from Option - EFA Non-qualified 25,100 Options - CGB Qualified 171,301 Average Option Price $ 9.99 Total Exercise Cost $1,711,297 Shares Repurchased 119,254 Net Shares from Option - CGB-qualified 52,047 Options - CGB Non-qualified 83,187 Average Option Price $ 10.62 Total Exercise Cost $ 883,446 Shares Repurchased 61,564 Net Shares From Option - CGB Non-qualified 21,623 --------- ----------- Gross Shares 8,953,717 9,596,490 Price $ 14.35
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Twelve Months ended December 31, 2000 Basic Diluted --------- ----------- Average Shares Outstanding 8,990,605 8,990,605 Options - Plan 1 18,934 Average Option Price $ 2.33 Total Exercise Cost $ 44,116 Shares Repurchased 2,650 Net Shares from Option - Plan 1 16,284 Options - Plan 2 202,861 Average Option Price $ 2.56 Total Exercise Cost $ 519,324 Shares Repurchased 31,191 Net Shares from Option - Plan 2 171,670 Options - Plan 3 553,528 Average Option Price $ 6.11 Total Exercise Cost $3,382,056 Shares Repurchased 203,126 Net Shares from Option - Plan 3 350,402 Options - Plan 4 53,631 Average Option Price $ 15.02 Total Exercise Cost $ 805,538 Shares Repurchased 48,381 Net Shares from Option - Plan 4 5,250 Options - EFA Non-qualified 84,754 Average Option Price $ 10.13 Total Exercise Cost $ 858,558 Shares Repurchased 51,565 Net Shares from Option - EFA Non-qualified 33,189 Options - CGB Qualified 160,652 Average Option Price $ 10.00 Total Exercise Cost $1,606,520 Shares Repurchased 96,488 Net Shares from Option - CGB-qualified 64,164 Options - CGB Non-qualified 82,714 Average Option Price $ 10.62 Total Exercise Cost $ 878,423 Shares Repurchased 52,758 Net Shares From Option - CGB Non-qualified 29,956 Stock Appreciation Rights 87,911 Average SAR price $ 12.25 Total Exercise Cost $1,076,910 Shares Repurchased 64,679 Net Shares from SARS 23,232 --------- --------- Gross Shares 8,990,605 9,684,752 Price $ 16.65
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Twelve Months ended December 31, 2001 Basic Diluted --------- ----------- Average Shares Outstanding 9,203,224 9,203,224 Options - Plan 1 -- Average Option Price $ -- Total Exercise Cost $ -- Shares Repurchased -- Net Shares from Option - Plan 1 -- Options - Plan 2 158,830 Average Option Price $ 2.63 Total Exercise Cost $ 417,723 Shares Repurchased 32,840 Net Shares from Option - Plan 2 -- Options - Plan 3 516,145 Average Option Price $ 6.68 Total Exercise Cost $3,447,849 Shares Repurchased 271,057 Net Shares from Option - Plan 3 -- Options - Plan 4 300,045 Average Option Price $ 13.54 Total Exercise Cost $4,062,609 Shares Repurchased 319,388 Net Shares from Option - Plan 4 -- Options - EFA Non-qualified 85,500 Average Option Price $ 10.19 Total Exercise Cost $ 871,245 Shares Repurchased 68,494 Net Shares from Option - EFA Non-qualified -- Options - CGB Qualified 70,279 Average Option Price $ 10.33 Total Exercise Cost $ 725,982 Shares Repurchased 57,074 Net Shares from Option - CGB-qualified -- Options - CGB Non-qualified 72,732 Average Option Price $ 10.56 Total Exercise Cost $ 768,050 Shares Repurchased 60,381 Net Shares From Option - CGB Non-qualified -- Stock Appreciation Rights 100,604 Average SAR price $ 12.55 Total Exercise Cost $1,262,580 Shares Repurchased 99,259 Net Shares from SARS -- --------- ---------- Gross Shares 9,203,224 9,203,224 Price $ 12.72
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