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STANDARD COMMERCIAL CORPORATION EXHIBIT 11
COMPUTATION OF EARNINGS PER COMMON SHARE
(In thousands, except per share information; unaudited)
<TABLE>
<CAPTION>
First quarter ended
June 30
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2000 1999
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<S> <C> <C>
BASIC AND DILUTED EARNINGS PER SHARE
Net income applicable to common stock.................... $ 1,688 $ 1,262
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Basic average shares outstanding......................... 12,999,013 12,933,331
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Earnings per common share
- net................................................... $ 0.13 $ 0.10
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</TABLE>
Note: The incremental shares from assumed conversion of 7 1/4% convertible
subordinated debentures and the exercise of outstanding stock options are not
included in computing the diluted per-share amounts because the calculations
include adjustments which are antidilutive.
