EX-11.1 2 a05-12876_1ex11d1.htm EX-11.1

EXHIBIT 11.1

 

COMPUTATION OF PER SHARE EARNINGS

 

 

 

Quarter Ended June 30,

 

Six Months Ended June 30,

 

 

 

2005

 

2004

 

2005

 

2004

 

Diluted net (loss) income per share:

 

 

 

 

 

 

 

 

 

Net (loss) income to common shareholders

 

$

92,000

 

$

(4,138,000

)

$

(1,463,000

)

$

(5,773,000

)

 

 

 

 

 

 

 

 

 

 

Average number of shares outstanding

 

7,957,428

 

8,417,005

 

8,133,780

 

8,507,260

 

Net effect of dilutive stock options based on treasury stock method

 

4,487

 

—

 

—

 

—

 

Total average shares

 

7,961,915

 

8,417,005

 

8,133,780

 

8,507,260

 

 

 

 

 

 

 

 

 

 

 

Diluted net (loss) income per share

 

$

0.01

 

$

(0.49

)

$

(0.18

)

$

(0.68

)