EX-11 5 ex1110k32003.txt EXHIBIT 11 OF FORM 10-K FOR PERIOD ENDED 3/31/03 EXHIBIT 11 STATEMENT RE COMPUTATION OF PER SHARE EARNINGS (in thousands, except per share data)
March 31, March 31, March 31, 2003 2002 2001 ----------- ----------- ----------- BASIC EARNINGS PER SHARE: ------------------------ Weighted average shares outstanding 14,368 14,348 14,299 =========== =========== =========== Income from continuing operations $10,184 $ 7,821 $ 8,977 Loss from discontinued operations - ( 16,862) ( 11,811) Cumulate effect of accounting change - ( 40,433) - ----------- ----------- ----------- Net income (loss) $10,184 ($49,474) ($ 2,834) =========== =========== =========== Income per share from continuing operations $ 0.71 $ 0.55 $ 0.63 Loss per share from discontinued operations - ( 1.18) ( 0.83) Cumulative effect of accounting change - ( 2.82) - ----------- ----------- ----------- Net income (loss) per share $ 0.71 ($ 3.45) ($ 0.20) =========== =========== =========== DILUTED EARNINGS PER SHARE: -------------------------- Basic weighted average shares outstanding 14,368 14,348 14,299 Convertible notes - - - Dilutive stock options - based on treasury stock method using the average market price 228 140 236 ----------- ----------- ----------- Total shares 14,596 14,488 14,535 Income from continuing operations $10,184 $ 7,821 $ 8,977 Loss from discontinued operations - ( 16,862) ( 11,811) Cumulative effect of accounting change - ( 40,433) - ----------- ----------- ----------- Net income (loss) $10,184 ($49,474) ($ 2,834) =========== =========== =========== Income per share from continuing operations $ 0.70 $ 0.54 $ 0.62 Loss per share from discontinued operations - ( 1.16) ( 0.82) Cumulative effect of accounting change - ( 2.79) - ----------- ----------- ----------- Net income per share $ 0.70 ($ 3.41) ($ 0.20) =========== =========== ===========