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Exhibit 11.1
EPS
(in thousands, except per share data)
Six Months Ended Tweleve Months Ended
June 30, December 31,
2000 1999 1999 1998 1997
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PRIMARY EARNINGS PER SHARE
Net income 4,994 (2,052) (552) 3,761 3,439
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Weighted average common
shares outstanding 14,742 13,865 13,900 13,521 12,890
====== ====== ====== ====== ======
Primary earnings per
common share 0.34 (0.15) (0.04) 0.28 0.27
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FULLY DILUTED EARNINGS PER SHARE
Net income 4,994 (2,052) (552) 3,761 3,439
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Weighted average common
shares outstanding 14,742 13,865 13,900 13,521 12,890
Dilutive stock options 883 384 -- 1,244 --
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Fully diluted weighted
average common shares
outstanding 15,625 14,249 13,900 14,765 12,890
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Fully diluted earnings per
common share 0.32 (0.15)(a) (0.04) 0.25 0.27
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(a) Stock options are anti-dilutive, accordingly fully diluted earnings per
share and primary earnings per share are the same.
