EX-11 4 ex11902q.txt EXHIBIT 11 TO FORM 10-Q FOR SEPTEMBER 30, 2002 EXHIBIT 11 STATEMENT RE COMPUTATION OF PER SHARE EARNINGS (Dollars and Shares in thousands, except per share data)
September 30, September 30, 2002 2001 ------------- ------------- Income from continuing operations $ 4,422 $ 3,834 Loss from discontinued operations, net of tax - (766) Loss on disposal, net of taxes - (14,707) ------------- ------------- Total loss from discontinued operations - (15,473) Cumulative change in accounting principle - (40,433) ------------- ------------- Net income $ 4,422 $(52,072) ============= ============= BASIC EARNINGS PER SHARE: ------------- ------------- Weighted average shares outstanding 14,368 14,343 ============= ============= Income per share from continuing operations $ 0.31 $ 0.27 Loss per share from discontinued operations, net of tax - (1.08) Loss per share from cumulative effect of change in accounting principle - (2.82) ------------- ------------- Net income per share $ 0.31 $ (3.63) ============= ============= DILUTED EARNINGS PER SHARE: Basic weighted average shares outstanding 14,368 14,343 Convertible notes - - Dilutive stock options - based on treasury stock method using the average market price 297 30 ------------- ------------- Total shares 14,665 14,373 ============= ============= Income per share from continuing operations $ 0.30 $ 0.27 Loss per share from discontinued operations, net of tax - (1.08) Loss per share from cumulative effect of change in accounting principle - (2.81) ------------- ------------- Net income per share $ 0.30 $ (3.62) ============= =============