EX-11.2 6 w42403ex11-2.txt COMPUTATION OF EARNINGS PER SHARE-DILUTED 1 EXHIBIT 11.2 COMPUTATION OF EARNINGS PER SHARE UNAUDITED DILUTED EARNINGS PER SHARE
Three Months Ended September 30, ----------------------------------------------- 2000 1999 ---- ---- Net income (loss)--numerator $ (2,342,488) $ 262,775 --------------------- ---------------- Basic weighted average shares outstanding 26,252,879 26,375,095 Plus incremental shares from assumed conversions(1) -- 1,349,040 --------------------- ---------------- Number of shares for computation of diluted net income (loss) per share--denominator 26,252,879 27,724,135 --------------------- ---------------- Diluted net income (loss) per share $ (0.09) $ 0.01 ===================== ================ Nine Months Ended September 30, ------------------------------------------------- 2000 1999 ---- ---- Net income (loss)--numerator $ (4,794,667) $ 5,378,540 --------------------- ---------------- Basic weighted average shares outstanding 26,312,012 26,403,061 Plus incremental shares from assumed conversions(1) -- 1,356,373 --------------------- ---------------- Number of shares for computation of diluted net income (loss) per share 26,312,012 27,759,434 --------------------- ---------------- Diluted net income (loss) per share $ (0.18) $ 0.19 ===================== ================
(1) The diluted share base for the three and nine month periods ended September 30, 2000 exclude incremental shares of 2,246,612 and 2,288,778, respectively, related to employee and non-employee stock options. These shares are excluded due to their antidilutive effect as a result of the Company's net losses incurred during 2000.