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<PAGE>
EXHIBIT 11 - STATEMENT Re: COMPUTATION OF EARNINGS PER SHARE
Six months ended June 30,
2000 1999
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(in thousands, except per share data)
Basic:
Net income $ 4,314 $12,239
Average shares outstanding 16,877 16,820
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Basic EPS $ 0.26 $ 0.73
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Diluted:
Net income $ 4,314 $12,239
Average shares outstanding 16,877 16,820
Effect of dilutive securities:
Employee stock options - -
Contingently issuable stock - -
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Totals 16,877 16,820
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Diluted EPS $ 0.26 $ 0.73
=====================================
Three months ended June 30,
2000 1999
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(in thousands, except per share data)
Basic:
Net income $ 295 $ 6,994
Average shares outstanding 16,878 16,820
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Basic EPS $ 0.02 $ 0.42
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Diluted:
Net income $ 295 $ 6,994
Average shares outstanding 16,878 16,820
Effect of dilutive securities:
Employee stock options
Contingently issuable stock - -
---------------------------------
Totals 16,878 16,820
---------------------------------
Diluted EPS $ 0.02 $ 0.42
=================================
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