EX-11 5 0005.txt COMPUTATION OF BASIC & DILLUTED EARNINGS PER SHARE Exhibit 11 ITT EDUCATIONAL SERVICES, INC. COMPUTATION OF BASIC AND DILUTED EARNINGS PER SHARE (In thousands, except per share data)
Three Months Ended September 30, Nine Months Ended September 30, --------------------------------- ------------------------------- 2000 1999 2000 1999 ---- ---- ---- ---- Net income $ 7,473 $ 10,050 $ 12,536 $ 17,820 ============= =============== ============ ============= Shares: Weighted average number of shares of common stock outstanding 23,912 24,935 24,147 25,424 Shares assumed issued (less shares assumed purchased for treasury) on stock options 234 97 158 162 ------------- --------------- ------------ -------------- Outstanding shares for diluted earnings per share calculation 24,146 25,032 24,305 25,586 ============= =============== ============ ============== Earnings per common share: Basic $ 0.31 $ 0.40 $ 0.52 $ 0.70 Diluted $ 0.31 $ 0.40 $ 0.52 $ 0.70