|
|
|
|
|
|
|
|
|
EXHIBIT 11
CHANCELLOR CORPORATION AND SUBSIDIARIES
COMPUTATION OF EARNINGS PER SHARE
The following table reflects the calculation of the earnings per share:
<TABLE>
<CAPTION>
Weighted Average
Common Shares
Income Outstanding
----------- ----------------
(numerator) (denominator)
Quarter ended June 30, 1999 In thousands, except share and per share data
<S> <C> <C>
Earnings from Operations (restated) $ 201 48,300,550
=========== ==========
Basic earnings per common share $ 0.00
Effect of dilutive securities
Convertible preferred shares - - - 5,000,000
Warrant - VCC - - - 2,222,222
Vested Employee Options - - - 1,418,355
----------- ----------
$ 201 56,941,127
=========== ==========
Diluted earnings per common share $ 0.00
Quarter ended June 30, 1998
Earnings from Operations $ 34 35,032,242
=========== ==========
Basic earnings per common share $ 0.00
Effect of dilutive securities -
Convertible preferred shares - - - 5,000,000
Warrant - VCC - - - 2,592,593
Vested Employee Options - - - 1,000,000
----------- ----------
$ 34 43,624,835
=========== ==========
Diluted earnings per common share $ 0.00
Year to date ended June 30, 1999:
Earnings from operations (restated) $ 293 46,039,725
=========== ==========
Basic earnings per common share $ 0.01
Effect of dilutive securities -
Convertible preferred shares - - - 5,000,000
Warrant - VCC - - - 3,484,848
Vested Employee Options - - - 1,521,624
----------- ---------
$ 293 56,046,197
=========== ==========
Diluted earnings per common share $ 0.01
Year to date ended June 30, 1998:
Earnings from operations $ 60 33,168,387
=========== ==========
Basic earnings per common share $ 0.00
Convertible preferred shares - - - 5,000,000
Warrant - VCC - - - 2,857,143
Vested Employee Options - - - 1,000,000
----------- ----------
$ 60 42,025,530
=========== ==========
Diluted earnings per common share $ 0.00
</TABLE>
|
|