EX-11 3 dex11.htm EXHIBIT 11 Prepared by R.R. Donnelley Financial -- Exhibit 11
 
EXHIBIT 11
 
Statement re: Computation of Earnings Per Share
(In thousands, except Earnings per Share Adjusted for
the four for three stock split in the form of a stock
dividend that took place on August 24, 2001)
 
 
    
Three Months Ended
    
June 30, 2002
   
June 30, 2001
Net income
   
$
230
   
$
48
Average Shares Outstanding
   
 
3,009
   
 
2,240
Basic Earnings Per Share
   
$
0.07
   
$
0.02
Net income
   
$
230
   
$
49
Average Shares Outstanding before the effect of options
   
 
3,009
   
 
2,987
Effect of Options
   
 
20
   
 
—  
Average Shares Outstanding including options
   
 
3,029
   
 
2,987
Diluted Earnings Per Share
   
$
0.07
   
$
0.02
 
    
Six Months Ended
    
June 30, 2002
   
June 30, 2001
Net income
   
$
375
   
$
200
Average Shares Outstanding
   
 
3,003
   
 
2,987
Basic Earnings Per Share
   
$
0.12
   
$
0.07
Net income
   
$
375
   
$
200
Average Shares Outstanding before the effect of options
   
 
3,003
   
 
2,992
Effect of Options
   
 
20
   
 
—  
Average Shares Outstanding including options
   
 
3,023
   
 
2,992
Diluted Earnings Per Share
   
$
0.12
   
$
0.07