EX-11.1 3 l93880aex11-1.txt EXHIBIT 11.1 Exhibit 11.1 EXHIBIT 11.1 - STATEMENT RE COMPUTATION OF EARNINGS PER COMMON SHARE The factors used in the earnings per share computation follow:
2002 2001 ---- ---- Basic Net income (loss) $ 209 $ 180 ============== ============ Weighted average common shares Outstanding 1,574,749 1,530,264 Basic earnings per common share $ 0.13 $ 0.12 ============== ============ Diluted Net income (loss) $ 209 $ 180 ============== ============ Weighted average common shares Outstanding for basic earnings per common share 1,574,749 1,530,264 Add: Dilutive effects of assumed exercises of stock options and RRP shares 24,612 23,181 -------------- ------------ Average shares and dilutive potential common shares 1,599,361 1,553,445 ============== ============ Diluted earnings per common share $ .13 $ 0.11 ============== ============
Stock options for 8,000 shares of common stock were not considered in computing diluted earnings per common share for 2001 because they were anti dilutive.