EX-11 4 ex111202q.txt EXHIBIT 11 FOR FORM 10-Q FOR PERIOD ENDED DECEMBER 31, 2002 EXHIBIT 11 STATEMENT RE COMPUTATION OF PER SHARE EARNINGS NINE MONTHS ENDED DECEMBER 31, 2002 AND 2001 (Dollars and Shares in thousands, except per share data)
December 31, December 31, 2002 2001 ------------ ------------ Income from continuing operations $ 6,910 $ 5,709 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 $ 6,910 $(50,197) ============ ============ BASIC EARNINGS PER SHARE: ------------ ------------ Weighted average shares outstanding 14,368 14,343 ============ ============ Income per share from continuing operations $ 0.48 $ 0.40 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 $ 0.48 $ (3.50) ============ ============ 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 245 671 ------------ ------------ Total shares 14,613 15,014 ============ ============ Income per share from continuing operations $ 0.47 $ 0.38 Loss per share from discontinued operations, net of tax - (1.03) Loss per share from cumulative effect of change in accounting principle - (2.69) ------------ ------------ Net income per share $ 0.47 $ (3.34) ============ ============