EXHIBIT 11
DOCUCON, INCORPORATED
COMPUTATION OF EARNINGS PER SHARE
(Unaudited)
<TABLE>
Three Months Six Months
Ended June 30 Ended June 30
-------------------------- --------------------------
2000 1999 2000 1999
------------- ----------- ------------ -----------
<S> <C> <C> <C> <C>
COMPUTATION OF BASIC EARNINGS (LOSS)
PER SHARE:
Net loss from continuing $ (279,731) $ (357,768) $ (784,032) $ (781,569)
operations
Preferred stock dividend
requirements 4,813 4,813 9,625 9,625
----------- ---------- ---------- ------------
Net loss from continuing operations
applicable to common stockholders (284,544) (362,581) (793,657) (791,194)
Net earnings (loss) from
discontinued operations 3,566,775 (341,140) 3,060,268 (1,056,282)
----------- ---------- ---------- ------------
Net income (loss) applicable to
common stockholders $ 3,282,231 $ (703,721) $2,266,611 $ (1,847,476)
=========== ========== ========== ============
WEIGHTED AVERAGE NUMBER OF SHARES OF
COMMON STOCK OUTSTANDING 3,558,218 3,327,633 3,516,918 3,315,654
========== ========== ========== ============
BASIC LOSS FROM CONTINUING
OPERATIONS PER COMMON SHARE $ (.08) $ (.11) $ (.23) $ (.24)
BASIC EARNINGS (LOSS) FROM
DISCONTINUED OPERATIONS PER COMMON 1.00 (.10) .87 (.32)
SHARE ----------- ---------- ---------- -----------
BASIC EARNINGS (LOSS) PER COMMON $ .92 $ (.21) $ .64 $ (.56)
SHARE =========== ========== ========== ===========
COMPUTATION OF DILUTED EARNINGS
(LOSS) PER SHARE:
Net loss from continuing operations
$ (279,731) $ (357,768) $ (784,032) $ (781,569)
Preferred stock dividend 4,813 4,813 9,625 9,625
requirements
Preferred stock dividends not
incurred upon assumed conversion
of preferred stock (4,813) (4,813) (9,625) (9,625)
----------- ---------- ---------- ------------
Net loss from continuing operations
applicable to common stockholders
used for computation
(279,731) (357,768) (784,032) (781,569)
Net earnings (loss) from
discontinued operations 3,566,775 (341,140) 3,060,268 (1,056,282)
----------- ---------- ---------- -----------
Net income (loss) applicable to
common stockholders used for $ 3,287,044 $ (698,908) $2,276,236 $(1,837,851)
computation =========== ========== ========== ============
Weighted average number of shares
of common stock outstanding 3,558,218 3,327,633 3,516,918 3,315,654
Weighted average incremental shares
outstanding upon assumed conversion
of options and warrants
55,971 112 110,203 389
Weighted average incremental shares
outstanding upon assumed conversion
of the preferred stock 58,331 58,331 58,331 58,331
----------- ---------- ---------- ------------
WEIGHTED AVERAGE NUMBER OF SHARES OF
COMMON STOCK AND COMMON STOCK
EQUIVALENTS OUTSTANDING USED FOR
COMPUTATION 3,672,520 3,386,076 3,685,452 3,374,374
============ ========== ========== ============
DILUTED LOSS FROM CONTINUING
OPERATIONS PER COMMON SHARE AND
COMMON SHARE EQUIVALENTS $ (.08) $ (.11) $ (.21) $ (.23)
DILUTED EARNINGS (LOSS) FROM
DISCONTINUED OPERATIONS PER COMMON
SHARE AND COMMON SHARE EQUIVALENTS .97 (.10) 83 (.31)
------------ ---------- ---------- -----------
DILUTED EARNINGS (LOSS) PER COMMON
SHARE AND COMMON SHARE EQUIVALENTS $ .89(a) $ (.21)(a)$ .62(a) $ (.54)(a)
============ ========= ========== ===========
</TABLE>
(a) This calculation is submitted in accordance with Item 601(b)(11)
of Regulation S-K although it is not required by SFAS No. 128
because it is antidilutive.
