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M. H. Meyerson & Co., Inc.
Exhibit 11
Statement of Earnings Per Share
The earnings per share during the periods presented were calculated as follows:
Six months ended July 31, 1999
5,090,335 shares from February 1 to February 4 4 days 20,361,340
5,340,335 shares from February 5 to February 10 6 days 32,042,010
5,490,335 shares from February 11 to February 23 13 days 71,374,355
5,510,335 shares from February 24 to February 24 1 day 5,510,335
5,525,335 shares from February 25 to March 30 34 days 187,861,390
5,527,335 shares from March 31 to April 7 8 days 44,218,680
5,532,335 shares from April 8 to April 11 4 days 22,129,340
6,032,335 shares from April 12 to May 17 36 days 217,164,060
6,037,335 shares from May 18 to May 26 9 days 54,336,015
6,042,335 shares from May 27 to May 27 1 day 6,042,335
6,043,335 shares from May 28 to May 31 4 days 24,173,340
6,204,815 shares from June 1 to June 3 3 days 18,614,445
6,209,815 shares from June 4 to June 16 13 days 80,727,595
6,214,815 shares from June 17 to June 22 6 days 37,288,890
6,219,815 shares from June 23 to July 21 29 days 180,374,635
6,221,815 shares from July 22 to July 31 10 days 62,218,150
181 days 1,064,436,915
1,064,436,915 shares divided by 181 days=5,880,867 average shares outstanding.
Equivalent shares using modified treasury stock method:
Shares assumed sold:
131,000 1 131,000
114,091 1.1 125,500
20,000 1.375 27,500
45,000 1.96875 88,594
12,500 2.0625 25,781
159,429 2.1875 348,751
715,000 2.25 1,608,750
12,500 2.5 31,250
10,000 3.5 35,000
Shares assumed bought: (490,557) 4.9375 (2,422,126)
Total: 728,963 0
Total weighted average outstanding shares: 6,609,830
$2,103,404 / 6,609,830 = $0.32 earnings per diluted share.
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Six months ended July 31, 2000
6,507,815 shares from February 1 to February 17 17 days 110,632,855
6,517,815 shares from February 18 to March 16 28 days 182,498,820
6,527,815 shares from March 17 to April 4 19 days 124,028,485
6,547,815 shares from April 5 to April 12 8 day 52,382,520
6,552,815 shares from April 13 to April 25 13 days 85,186,595
6,565,315 shares from April 26 to April 30 5 days 32,826,575
6,565,315 shares from May 1 to May 22 22 days 144,436,930
6,570,315 shares from May 23 to May 31 9 days 59,132,835
6,590,315 shares from June 1 to June 1 1 days 6,590,315
6,595,315 shares from June 2 to June 29 28 day 184,668,820
6,582,315 shares from June 30 to July 31 32 days 210,634,080
182 days 1,193,018,830
1,193,018,830 shares divided by 182 days=6,555,049 average shares outstanding.
Equivalent shares using modified treasury stock method:
Shares assumed sold:
114,091 1.1 125,500
15,000 1.96875 29,531
159,429 2.1875 348,751
582,500 2.25 1,310,625
10,000 2.4375 24,375
25,000 2.5 62,500
Shares assumed bought: (390,007) (1,901,282)
Total: 516,013 0
Total weighted average outstanding shares: 7,071,062
$3,720,478 / 7,071,062 = $0.53 earnings per diluted share.
