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Exhibit 11
ITT EDUCATIONAL SERVICES, INC.
COMPUTATION OF BASIC AND DILUTED EARNINGS PER SHARE
(In thousands, except per share data)
| Three Months Ended March 31, | |||||
|---|---|---|---|---|---|
| 2000 |
1999 |
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| Net income |
$ 1,205 |
$ 6,519 |
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| Shares: | |||||
| Weighted average number of shares | |
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of common stock outstanding |
24,506
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26,057 |
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| Shares assumed issued |
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(less shares assumed purchased | |
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| for treasury) on stock options | 81
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240
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| Outstanding shares for diluted |
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earnings per share calculation |
24,587 |
26,297 |
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| Earnings per common share: |
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| Basic | $ 0.05 |
$ 0.25 |
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| Diluted |
$ 0.05
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$ 0.25 |
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