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Exhibit 11.1
Computation of Earnings Per Common Share
(In thousands, except per share data) Quarter Ended Six Months Ended
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July 2, July 4, July 2, July 4,
2000 1999 2000 1999
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<S> <C> <C> <C> <C>
Average number of common shares used in basic calculation 25,332 28,756 25,329 29,824
Net additional shares issuable pursuant to employee stock
option plans at period-end market price - 1 - 1
Shares issuable on assumed conversion of convertible
preferred securities - * 7,774 - * 7,774
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Average number of common shares used in diluted calculation 25,332 36,531 25,329 37,599
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Net earnings (1,665) 5,968 (2,202) 11,920
Distribution savings on assumed conversion of convertible
preferred securities, net of income taxes - * 1,407 - * 2,733
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Net earnings for computation of diluted earnings per common share $ (1,665) 7,375 (2,202) 14,653
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Basic earnings (loss) per common share $ (0.07) 0.21 (0.09) 0.40
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Diluted earnings (loss) per common share $ (0.07)* 0.20 (0.09)* 0.39
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* Diluted earnings (loss) per share ("EPS") for the quarter and six
months ended July 2, 2000 increases from $(0.07) to $(0.01) and from
$(0.09) to $0.02, respectively, when the Convertible Preferred
Securities are included in the calculation. As those shares are
antidilutive, they are excluded from the computation of diluted EPS.
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