EX-11 3 v86349exv11.htm EXHIBIT 11 Virco MFG. Corp., Exhibit 11
 

Exhibit 11

VIRCO MFG. CORPORATION

Statement re: Computation of Earnings Per Share

                                 
    Three Months Ended   Nine Months Ended
    October 31   October 31
   
 
    2002   2001   2002   2001
   
 
 
 
Diluted earnings per share
                               
Weighted average shares outstanding
    13,311,000       13,430,000       13,368,000       13,532,000  
Net effect of dilutive stock options — based on the treasury stock method using average market price
    146,000       145,000       135,000       140,000  
 
   
     
     
     
 
Totals
    13,457,000       13,575,000       13,503,000       13,672,000  
 
   
     
     
     
 
Net income
  $ 3,244,000     $ 3,912,000     $ 5,367,000     $ 4,637,000  
 
   
     
     
     
 
Per share amount
  $ 0.24     $ 0.29     $ 0.40     $ 0.34  
 
   
     
     
     
 

Weighted average shares outstanding for the three and nine months ended October 31, 2001 were adjusted for a 10% stock dividend declared on August 20, 2002.