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EXHIBIT 11
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TRISM, INC. |
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Computation of Basic and Diluted Earnings Per Common Share |
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For the three months ended June 30, 2000 and 1999 |
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(In thousands, except per share amounts, unaudited) |
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Reorganized |
Predecessor |
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Company |
Company |
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June 30, 2000 |
June 30, 1999 |
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Net earnings (loss) |
$ (348) |
$ (2,729) |
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======== |
======== |
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Weighted average number of shares |
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Basic: |
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Average common shares outstanding |
2,000 |
5,702 |
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Diluted: |
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Average common shares outstanding |
2,000 |
5,702 |
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Common share equivalents resulting from |
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assumed exercise of stock options |
- |
- |
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2,000 |
5,702 |
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Basic earnings (loss) per common share: |
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Net earnings (loss) |
$ (0.17) |
$ (0.48) |
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======== |
========= |
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Diluted earnings (loss) per share: |
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Net earnings (loss) |
$ (0.17) |
$ (0.48) |
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======== |
========= |
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EXHIBIT 11, continued
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TRISM, INC. |
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Computation of Basic and Diluted Earnings Per Common Share |
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(In thousands, except per share amounts, unaudited) |
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Reorganized |
Predecessor |
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Company |
Company |
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Four and |
One and |
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one half |
one half |
Six |
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Months Ended |
Months Ended |
Months Ended |
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June 30, 2000 |
February 15, 2000 |
June 30, 1999 |
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Income (loss) before extraordinary item |
$ (319) |
$ (40,632) |
$ (6,349) |
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and cumulative effect of accounting change |
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Extraordinary item, gain on extinguishment |
- |
42,682 |
- |
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of debt, net |
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Cumulative effect of accounting change, net |
- |
- |
(274) |
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Net earnings (loss) |
$ (319) |
$ 2,050 |
$ (6,623) |
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======= |
======= |
======= |
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Weighted average number of shares |
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Basic: |
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Average common shares outstanding |
2,000 |
5,702 |
5,702 |
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Diluted: |
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Average common shares outstanding |
2,000 |
5,702 |
5,702 |
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Common share equivalents resulting from |
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assumed exercise of stock options |
- |
- |
- |
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2,000 |
5,702 |
5,702 |
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Basic earnings (loss) per common share: |
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Income (loss) before extraordinary item and |
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cumulative effect of accounting change |
$ (0.16) |
$ (7.13) |
$ (1.11) |
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Extraordinary item |
- |
7.49 |
- |
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Cumulative effect of accounting change |
- |
- |
(0.05) |
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Net earnings (loss) |
$ (0.16) |
$ 0.36 |
$ (1.16) |
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======== |
======== |
======= |
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Diluted earnings (loss) per share: |
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Income (loss) before extraordinary item and |
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cumulative effect of accounting change |
$ (0.16) |
$ (7.13) |
$ (1.11) |
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Extraordinary item |
- |
7.49 |
- |
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Cumulative effect of accounting change |
- |
- |
(0.05) |
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Net earnings (loss) |
$ (0.16) |
$ 0.36 |
$ (1.16) |
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======= |
======== |
======= |
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Earnings (Loss) Per Share
Basic earnings (loss) per share excludes dilution and is computed by dividing net earnings (loss) by the weighted average number of common shares outstanding. Common shares outstanding include issued shares less shares held in treasury. Diluted earnings per share reflect the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock (common stock equivalents). Diluted earnings per share is calculated by dividing net income by the sum of the weighted average number of common shares outstanding and dilutive common stock equivalents at the end of each reporting period. Common stock equivalents are excluded from the diluted calculation if a net loss was incurred for the period as these transactions are anti-dilutive.
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