Exhibit 11
Computations of Earnings Per Common Share
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1999 |
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2000 |
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Net |
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Per Share |
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Net |
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Per Share |
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(Loss) |
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Shares |
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Amount |
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Income |
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Shares |
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Amount |
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(in thousands, except per share data) |
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Basic EPS |
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Net income (loss) available to common shareholders |
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$ |
(1,892 |
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15,640 |
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(0.12 |
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$ |
12,828 |
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20,160 |
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$ |
0.64 |
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Effect of Dilutive Securities Stock option plans |
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— |
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2,444 |
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Dilutive EPS |
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Net income (loss) available to common shareholders and
assumed conversions |
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$ |
(1,892 |
) |
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15,640 |
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$ |
(0.12 |
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$ |
12,828 |
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22,604 |
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$ |
0.57 |
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Note: The Company’s subordinated debt, which was
exchangeable into 2.8 million shares of the Company’s
Class A Common Stock, was outstanding during the three
months ended March 31, 1999 but was not included in the
computation of diluted earnings per share because the effect
would have been anti-dilutive. Options to purchase
2.3 million shares of Class A common stock were
outstanding during the three months ended March 31, 1999,
but were not included in the computation of diluted earnings per
share because the effect would have been anti-dilutive.
15
