EX-11 2 g94074exv11.htm EX-11 COMPUTATION OF EARNINGS PER SHARE EX-11 COMPUTATION OF EARNINGS PER SHARE
 

EXHIBIT 11

COMPUTATION OF EARNINGS PER SHARE
(in thousands, except per share data)

(a) Computation of the weighted average number of shares of common stock outstanding for the fiscal years ended the years ended December 31, 2002, 2003 and 2004.

                 
    Shares of     Weighted Shares  
    Common Stock     Outstanding  
2002
               
January 1, 2002 to December 31, 2002
    10,520       10,520  
Shares issued on exercise of stock options
    255       195  
Shares issued under Directors Stock Plan
    3       1  
Shares issued to BellSouth Wireless for the conversion of 30,000 preferred stock shares into 625,000 common shares, converted on December 2, 2002
    625       50  
 
           
Total
    11,403       10,766  
 
           
 
               
2003
               
January 1, 2003 to December 31, 2003
    11,403       11,403  
Shares issued on exercise of stock options
           
Shares issued under Directors Stock Plan
    12       7  
Shares purchased as treasury stock from BellSouth Wireless on March 28, 2003
    (625 )     (476 )
 
           
Total
    10,790       10,934  
 
           
 
               
2004
               
January 1, 2004 to December 31, 2004
    10,790       10,790  
Shares issued on exercise of stock options
           
Shares issued under Directors Stock Plan
    7       5  
Shares issued under Employee Stock Plan
    5       2  
Shares issued to Laurus Master Fund, Inc. on December 23, 2004
    10       1  
Total
    10,812       10,798  
 
           

(b) Computation of Earnings per Share

Computation of earnings per share is net earnings (loss) divided by the weighted average number of shares of common stock outstanding for the years ended December 31, 2002, 2003 and 2004.

                         
    2002     2003     2004  
Net loss
  $ (7,690 )   $ (1,404 )   $ (2,079 )
 
                       
Weighted average number of shares of common stock outstanding
    10,766       10,934       10,798  
 
                       
Basic loss per share
  $ (0.71 )   $ (0.13 )   $ (0.19 )
Diluted loss per share
  $ (0.71 )   $ (0.13 )   $ (0.19 )

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