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COMDIAL CORPORATION AND SUBSIDIARIES
EXHIBIT 11
SCHEDULE OF COMPUTATION OF PER SHARE EARNINGS
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(Dollars in thousands except share amounts) Three Months Ended Six Months Ended
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July 2, July 4, July 2, July 4,
2000 1999 2000 1999
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BASIC
Net income (loss): ($6,658) $1,291 ($6,317) $1,679
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Weighted average number of common
shares outstanding during the period 9,202,410 8,933,304 9,142,395 8,896,595
Add - Deferred and contingency shares 16,619 15,000 17,810 47,317
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Weighted average number of shares used in
calculation of basic earnings per common share 9,219,029 8,948,304 9,160,205 8,943,912
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Basic earnings per share ($0.72) $0.14 ($0.69) $0.19
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DILUTED
Net income (loss) - basic: ($6,658) $1,291 ($6,317) $1,679
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Weighted average number of shares used in
calculation of basic earnings per common share 9,219,029 8,948,304 9,160,205 8,943,912
Add incremental shares representing:
Shares issuable based on weighted average
price:
Stock options 66,614 37,470 214,080 41,311
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Weighted average number of shares used in
calculation of diluted earnings per
common share 9,285,643 8,985,774 9,374,285 8,985,223
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Diluted earnings per share ($0.72) $0.14 ($0.67) $0.19
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