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EXHIBIT II
UNIVERSAL AUTOMOTIVE INDUSTRIES, INC.
COMPUTATION OF EARNINGS PER SHARE
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<CAPTION>
Three Months Ended Nine Months Ended
September 30, September 30,
-------------------------- --------------------------
2000 1999 2000 1999
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<S> <C> <C> <C> <C>
BASIC NET INCOME (LOSS) PER COMMON SHARE
Net Income (Loss):
Continuing operations $ (331,555) $ 184,540 $ (184,410) $ 578,793
Discontinued operation 0 (320,080) 0 (907,329)
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Net $ (331,555) $ (135,540) $ (184,410) $ (328,536)
=========== =========== =========== ===========
Weighted average Common Shares outstanding 7,036,563 6,793,777 6,914,194 6,783,411
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Basic Net Income (Loss) Per Common Share:
Continuing operations $ (0.05) $ 0.03 $ (0.03) $ 0.08
Discontinued operation 0.00 (0.05) 0.00 (0.13)
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Net $ (0.05) $ (0.02) $ (0.03) $ (0.05)
=========== =========== =========== ===========
DILUTED NET INCOME (LOSS) PER COMMON SHARE
Net Income (Loss):
Continuing operation $ (331,555) $ 184,540 $ (184,410) $ 578,793
Discontinued operation 0 (320,080) 0 (907,329)
----------- ----------- ----------- -----------
Net $ (331,555) $ (135,540) $ (184,410) $ (328,536)
=========== =========== =========== ===========
Weighted average Common Shares outstanding 7,036,563 6,793,777 6,914,194 6,783,411
Options and warrants assumed to be Common Stock
equivalents using Treasury Stock Method 0 367,342 0 368,777
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Weighted average common shares outstanding, as
adjusted 7,036,563 7,161,119 6,914,194 7,152,188
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Diluted Net Income (Loss) per Common Share:
Continuing operations $ (0.05) $ 0.03 $ (0.03) $ 0.08
Discontinued operation 0.00 (0.05) 0.00 (0.13)
----------- ----------- ----------- -----------
Net $ (0.05) $ (0.02) $ (0.03) $ (0.05)
=========== =========== =========== ===========
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