EX-11 2 exhib11.txt COMPUTATION EXHIBIT 11.1 UNIFIED FINANCIAL SERVICES, INC. EARNINGS PER SHARE CALCULATION
NINE MONTHS ENDED THREE MONTHS ENDED SEPTEMBER 30, SEPTEMBER 30, ---------------------------- ---------------------------- 2000 1999 2000 1999 ----------- ----------- ----------- ----------- INCOME AVAILABLE TO COMMON STOCKHOLDERS Net income (loss) ......................................... $(1,364,556) $ (484,050) $ 177 $ (483,166) Preferred dividends ....................................... -- -- -- -- ----------- ----------- ----------- ----------- Income available to common stockholders ........................................... $(1,364,556) $ (484,050) $ 177 $ (483,166) =========== =========== =========== =========== CALCULATION OF COMMON STOCK Common shares outstanding at beginning of period .............................................. 2,869,862 2,267,449 2,879,712 2,585,042 Shares issues re: acquisition of M. Wilson and Associates -- 3,636 -- -- Shares issued re: acquisition of Fully Armed Production .. -- 18,182 -- -- Shares issued re: acquisition of Commonwealth Investment Services .................................... -- 27,500 -- -- Shares issued in private placement during period .......... 11,530 213,550 1,680 52,470 Shares issued upon conversion of Series C preferred stock ........................................ -- 290,520 -- 136,215 Repurchase of common stock ................................ (1,364) (47,110) (1,364) -- ----------- ----------- ----------- ----------- Common shares used in basic calculation ................ 2,880,028 2,773,727 2,880,028 2,773,727 ----------- ----------- ----------- ----------- Common stock equivalent of options ........................ 170,797 100,713 170,797 100,713 Preferred stock Series C conversion in common stock ....... -- 71,415 -- 71,415 ----------- ----------- ----------- ----------- Common shares used in fully diluted calculation ........ 3,050,825 2,945,855 3,050,825 2,945,855 ----------- ----------- ----------- ----------- EARNINGS PER SHARE Basic ..................................................... $ (0.47) $ (0.17) $ -- $ (0.17) =========== =========== =========== =========== Fully diluted ............................................. $ (0.45) $ (0.16) $ -- $ (0.16) =========== =========== =========== ===========