EX-11 4 x11062002.txt EXHIBIT 11 TO FORM 10-Q FOR PERIOD ENDED JUNE 30, 2002 EXHIBIT 11 STATEMENT RE COMPUTATION OF PER SHARE EARNINGS (Dollars and Shares in thousands, except per share data)
June 30, 2002 June 30, 2001 ------------- ------------- BASIC EARNINGS PER SHARE: Weighted average shares outstanding 14,367 14,343 ============= ============= Income from continuing operations $ 323 $ 528 Loss from discontinued operations - (234) Cumulative change in accounting principle - (40,433) ------------- ------------- Net income $ 323 $(40,139) ============= ============= Income per share from continuing operations $ 0.02 $ 0.04 Income (loss) per share from discontinued operations - (0.02) Cumulative effect of change in accounting principle - (2.82) ------------- ------------- Net income per share $ 0.02 $ (2.80) ============= ============= DILUTED EARNINGS PER SHARE: Basic weighted average shares outstanding 14,367 14,343 Convertible notes - - Dilutive stock options - based on treasury stock method using the average market price 313 15 ------------- ------------- Total shares 14,680 14,358 ============= ============= Income from continuing operations $ 323 $ 528 Loss from discontinued operations - (234) Cumulative change in accounting principle - (40,433) ------------- ------------- Net income $ 323 $(40,139) ============= ============= Income per share from continuing operations $ 0.02 $ 0.04 Income (loss) per share from discontinued operations - (0.02) Cumulative effect of change in accounting principle - (2.82) ------------- ------------- Net income per share $ 0.02 $ (2.80) ============= =============