EX-11 3 ex99_11.txt COMPUTATION OF PER SHARE EARNINGS Exhibit 11. Statement Re Computation of per share earnings ----------------------------------------------------------- Nine Months Ended September 30, 2003 Basic Earnings Per Share: Net Income $2,612,993 = $1.74 ------------------------------------------------ --------------- Weighted Average Number of Common Shares 1,506,028 Diluted Earnings Per Share: Net Income $2,612,993 = $2,612,993 = $1.73 ------------------------------------------------ --------------- --------- Weighted Average Number of Common Shares 1,506,028+4,954 1,510,982 Adjusted for Effect of Outstanding Options Three Months Ended September 30, 2003 Basic Earnings Per Share: Net Income $978,357 = $0.65 ------------------------------------------------ --------------- Weighted Average Number of Common Shares 1,502,563 Diluted Earnings Per Share: Net Income $978,357 = $978,357 = $0.65 ------------------------------------------------ --------------- --------- Weighted Average Number of Common Shares 1,502,563+1,749 1,504,312 Adjusted for Effect of Outstanding Options