EX-11 3 presto061142_ex11.htm STATEMENT RE COMPUTATION OF PER SHARE EARNINGS

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EXHIBIT 11


STATEMENT RE COMPUTATION OF PER SHARE EARNINGS


The following presents the computation of per share earnings reflecting the assumption that dilutive stock options are exercised.

 

 

 

(IN THOUSANDS
EXCEPT PER SHARE DATA)

 

 

 

2005

 

2004

 

2003

 

 

 

 

 

 

 

 

 

 

 

 

Net earnings (1)

 

$

18,967

 

$

15,441

 

$

15,477

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding (2)

 

 

6,826

 

 

6,821

 

 

6,820

 

 

 

 

 

 

 

 

 

 

 

 

Common share equivalents relating to stock
options

 

 

1

 

 

2

 

 

1

 

 

 

 

 

 

 

 

 

 

 

 

Adjusted common and common equivalent

 

 

 

 

 

 

 

 

 

 

shares for computation (3)

 

 

6,827

 

 

6,823

 

 

6,821

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net earnings per share:

 

 

 

 

 

 

 

 

 

 

Basic (1/2)

 

$

2.78

 

$

2.26

 

$

2.27

 

Diluted (1/3)

 

$

2.78

 

$

2.26

 

$

2.27