EXHIBIT 11
SIENA HOLDINGS, INC. AND SUBSIDIARIES
COMPUTATION OF EARNINGS PER SHARE
(in thousands, except per share data)
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Quarter Ended Quarter Ended
September 30, September 30,
2000 1999
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<S> <C> <C>
BASIC EARNINGS PER SHARE COMPUTATION:
Net income available to common stockholders ..................... $ 9 $ 25
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Weighted average common shares outstanding ...................... 6,000 * 6,000 *
BASIC EARNINGS PER SHARE:
Net income available to common stockholders ..................... $ 0.00 * $ 0.00 *
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DILUTED EARNINGS PER SHARE COMPUTATION:
Income available to common stockholders ......................... $ 9 $ 25
Income effect of assumed conversions ............................ -- --
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Net income available to common stockholders + assumed conversions $ 9 $ 25
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Weighted average common shares outstanding ...................... 6,000 6,000 *
Plus: Dilutive potential common shares under the SHI
Nonqualified Stock Option Plans ................... 117 60 *
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Adjusted weighted average shares outstanding .................... 6,117 6,060 *
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DILUTED EARNINGS PER SHARE:
Income available to common stockholders ......................... $ 0.00 $ 0.00 *
Income effect of assumed conversions ............................ -- --
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Net income available to common stockholders + assumed conversions $ 0.00 $ 0.00 *
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* Average share and per share amounts are based on shares issued or reserved for
issuance to creditors.
