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EXHIBIT 11 (CONTINUED)
COMPUTATION OF EARNINGS PER SHARE
UNAUDITED
DILUTED EARNINGS PER SHARE
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Three Months Ended Six Months Ended
June 30, June 30,
------------------------------- --------------------------------
2000 1999 2000 1999
---- ---- ---- ----
<S> <C> <C> <C> <C>
Weighted average shares
outstanding--basic 26,296,798 26,437,347 26,321,076 26,418,217
Plus incremental shares from
assumed conversions 2,284,245 877,382 2,300,500 862,217
---------- --------------- ------------ --------------
Number of shares for
computation of diluted net
income (loss) per share 28,581,043 27,314,729 28,621,576 27,280,434
Net income (loss) $(926,113) $ 2,322,017 $(2,452,184) $ 5,115,765
--------- --------------- ----------- --------------
Basic net income (loss) per
share $ (0.03) $ 0.09 $ (0.09) $ 0.19
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