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Previous: TRISM INC /DE/, 10-Q, EX-10.16, 2000-11-14 |
Next: ROTARY POWER INTERNATIONAL INC, 10QSB, 2000-11-14 |
EXHIBIT 11
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TRISM, INC. |
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Computation of Basic and Diluted Loss Per Common Share |
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For the three months ended September 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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September 30, 2000 |
September 30, 1999 |
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Net loss |
$ (1,951) |
$ (5,571) |
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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 and diluted loss per common share |
$ (0.98) |
$ (0.98) |
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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 Loss Per Common Share |
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(In thousands, except per share amounts, unaudited) |
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Reorganized |
Predecessor |
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Seven and |
One and |
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September 30, 2000 |
September 30, 1999 |
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Loss before extraordinary item |
$ (2,270) |
$ (40,632) |
$ (11,920) |
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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 |
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Cumulative effect of accounting change |
- |
- |
(274) |
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Net income (loss) |
$ (2,270) |
$ 2,050 |
$ (12,194) |
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======= |
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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 income (loss) per common share: |
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Loss before extraordinary item and |
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cumulative effect of accounting change |
$ (1.14) |
$ (7.13) |
$ (2.09) |
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Extraordinary item |
- |
7.49 |
- |
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Cumulative effect of accounting change |
- |
- |
(0.05) |
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Net income (loss) |
$ (1.14) |
$ 0.36 |
$ (2.14) |
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Diluted income (loss) per share: |
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Loss before extraordinary item and |
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cumulative effect of accounting change |
$ (1.14) |
$ (7.13) |
$ (2.09) |
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Extraordinary item |
- |
7.49 |
- |
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Cumulative effect of accounting change |
- |
- |
(0.05) |
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Net income (loss) |
$ (1.14) |
$ 0.36 |
$ (2.14) |
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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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