Exhibit 11.1
STATEMENT RE: COMPUTATION OF PER SHARE EARNINGS
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<CAPTION>
Three Months Ended Six Months Ended
June 30, June 30,
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2000 1999 2000 1999
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(in thousands, except for per share data)
<S> <C> <C> <C> <C>
Basic:
Net (loss) income applicable to
common stock $ (291) $ 7,812 $ 3,087 $ 15,062
Weighted average number of
common shares outstanding 15,778 15,500 15,702 15,466
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Basic (loss) net income per share $ (.02) $ .50 $ .20 $ .97
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Diluted:
Net (loss) income applicable to
common stock $ (291) $ 7,812 $ 3,087 $ 15,062
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Weighted average number of
common shares outstanding 15,778 15,500 15,702 15,466
Weighted average number of
dilutive common stock equivalents -- 260 104 472
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Weighted average number of
common and common equivalent
shares outstanding 15,778 15,760 15,806 15,938
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Diluted net (loss) income per share $ (.02) $ .50 $ .20 $ .95
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