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Previous: FRANKLIN FINANCE CORP, 10-Q, 2000-08-14 |
Next: FRANKLIN FINANCE CORP, 10-Q, EX-12, 2000-08-14 |
<PAGE> 1
EXHIBIT 11
FRANKLIN FINANCE CORPORATION
COMPUTATION OF NET INCOME PER SHARE
Net income for basic income per share is computed by subtracting from the
applicable income the dividend requirements on preferred stock to arrive at
income applicable to common stock and dividing this amount by the weighted
average number of shares of common stock outstanding during the period.
<TABLE>
<CAPTION>
Six Months Ended Three Months Ended
---------------------------------------------------------------
June 30, June 30,
2000 1999 2000 1999
---------------------------------------------------------------
<S> <C> <C> <C> <C>
INCOME
Net income $1,398,132 $1,180,362 $ 713,093 $ 565,751
Less: preferred stock dividend requirements 900,450 900,450 450,225 450,225
---------- ---------- ------------ ------------
Net income applicable to common stock $ 497,682 $ 279,912 $ 262,868 $ 115,526
SHARES
Weighted average number of common shares outstanding 22,077 22,077 22,077 22,077
NET INCOME PER SHARE $ 22.54 $ 12.68 $ 11.91 $ 5.23
</TABLE>
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