EX-11 5 dex11.txt STATEMENT OF EARNINGS PER SHARE EXHIBIT 11 STATEMENT OF COMPUTATION OF EARNINGS PER SHARE For the Twelve Months Ended September 30, 2001 and 2000
2001 (1) 2000 -------- ---- Basic (Loss) Earnings Per Share Numerator: Net (loss) income $ (3,304,928) $ 279,143 Denominator: Weighted average number of common shares outstanding 2,242,845 2,123,064 Basic (loss) earnings per share $ (1.47) $ 0.13 Diluted (Loss) Earnings Per Share Numerator: Net (loss) income $ (3,304,928) $ 279,143 Denominator: Weighted average number of common shares outstanding 2,242,845 2,123,064 Weighted average number of net common shares that would be issued upon exercise of dilutive options assuming proceeds used to repurchase shares pursuant to the treasury stock method (2) - 247,910 Weighted average number of common shares and dilutive potential common shares outstanding 2,242,845 2,370,974 Diluted (loss) earnings per share $ (1.47) $ 0.12
-------------------------------------------------------------------------------- (1) Diluted loss per share is the same as basic loss per share due to the net loss in 2001. (2) The treasury stock method recognizes the use of proceeds that could be obtained upon exercise of options in computing diluted earnings per share. It assumes exercise of options as of the beginning of the period or when issued, if later, and that any proceeds would be used to purchase common stock at the average market price during the period. 1