<TABLE>
EXHIBIT 11.1
STEVENS INTERNATIONAL, INC. AND SUBSIDIARIES
COMPUTATIONS OF NET INCOME (LOSS) PER COMMON SHARE
(UNAUDITED)
(Amounts in thousands, except per share data)
Three Months Ended Nine Months Ended
September 30, September 30,
2000 1999 2000 1999
------- ------ ------- -------
<S> <C> <C> <C> <C>
Basic and diluted:
Weighted average shares
outstanding - basic 9,502 9,492 9,502 9,492
Assumed exercise of Series A and B
stock options (Treasury stock method --- --- --- ---
Assumed exercise of warrants --- --- --- ---
Total common share equivalents - diluted 9,502 9,492 9,502 9,492
Net (loss) $ (364) $ (994) $(4,018) $ ( 946)
======= ======= ======= =======
Earnings (loss) per share - basic
(Note 8) $ (0.04) $ (0.10) $ (0.42) $ (0.10)
======= ======= ======= =======
Earnings (loss) per share - diluted
(Note 8) $ (0.04) $ (0.10) $ (0.42) $ (0.10)
======= ======= ======= =======
See notes to consolidated condensed financial statements.
</TABLE>
