EXHIBIT 11.01
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STATEMENT RE: COMPUTATION OF EARNINGS PER SHARE
<TABLE>
<CAPTION>
YEARS ENDED JUNE 30,
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<S> <C> <C> <C>
EARNINGS 2000 1999 1998
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Net income (loss) (in thousands) $(3,207) $854 $4,485
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WEIGHTED AVERAGE NUMBER OF SHARES
Outstanding common stock during the period 4,933,900 4,933,900 4,066,524
Contingently issuable shares 74,251 44,714 -
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BASIC WEIGHTED AVERAGE NUMBER OF SHARES 5,008,151 4,978,614 4,066,524
Effect of dilutive stock options and other
contingent shares - 11,347 20,942
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DILUTED WEIGHTED AVERAGE NUMBER OF SHARES 5,008,151 4,989,961 4,087,466
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Basic earnings per share $(0.64) $0.17 $1.10
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Diluted earning per share $(0.64) $0.17 $1.10
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During the year-ended June 30, 2000, the Company issued options to purchase
20,000 shares of its common stock at exercise prices ranging from $7.50 to
$9.25. The above dilutive earnings per share calculations exclude the effect of
options to purchase 330,500 and 45,000 for the years ended June 30, 2000 and
1999, respectively, shares of common stock at exercise prices ranging from $7.50
to $12.00 because they were anti-dilutive. Also see Note 7 related to
contingently issuable shares related to an acquisition. The effect of contingent
shares related to the guaranteed earn-out amount not paid at the closing of the
Sunbelt acquisition and the effect of satisfactory completion of part of the
second contingent earn-out has been included in the above basic earnings per
share calculations. The effect of contingent shares related to the first
earn-out of American Micro is not included, as such payment was paid in cash in
March 2000. The effect of contingent shares related to second earn-out of
American Micro is not included, as the amount of such contingent shares to be
issued is unable to be determined. See note 19 to the Consolidated Financial
Statements.
