EX-11 2 k58273ex11.txt COMPUTATION OF EARNINGS PER SHARE 1 Exhibit (11) - Computation of Earnings Per Share
Three Months Ended Nine Months Ended September 30 September 30 2000 1999 2000 1999 ---------- ---------- ----------- ------------ Basic: Average shares outstanding 17,874,139 18,033,679 17,884,865 18,081,394 ========== ========== ========== ========== Net earnings applicable to common stock and common stock equivalents $ 1,190,000 $ 2,850,000 $13,684,000 $15,542,000 =========== =========== =========== =========== Basic earnings per share $0.07 $0.16 $0.77 $0.86 ===== ===== ===== ===== Diluted: Average shares outstanding 17,874,139 18,033,679 17,884,865 18,081,394 Net effect of dilutive stock options based on treasury stock method using the average market price to common stock and common stock equivalents 285 64,853 11,761 37,900 ---------- ---------- ----------- ----------- Average number of common shares and common equivalent shares 17,874,424 18,098,532 17,896,626 18,119,294 ========== ========== ========== =========== Net earnings applicable to common stock and common stock equivalents $ 1,190,000 $ 2,850,000 $13,684,000 $15,542,000 =========== =========== =========== =========== Diluted earnings per share $0.07 $0.16 $0.76 $0.86 ===== ===== ===== =====