EX-11 2 a116032.txt EXHIBIT 11.01 STATEMENT RE: EARNINGS PER SHARE The calculation of earnings per share is detailed in the table below:
THREE MONTHS ENDED NINE MONTHS ENDED MARCH 31, MARCH 31, ----------------------------------------------------------------------- 2001 2000 2001 2000 ---- ---- ---- ---- EARNINGS Net loss (in thousands) $(2,517) $(1,308) $(2,739) $(1,090) -------- -------- -------- -------- WEIGHTED AVERAGE NUMBER OF SHARES Outstanding common stock during the period 5,003,639 4,933,900 4,959,882 4,933,900 Contingently issuable shares 24,392 -- 74,504 --------- --------- --------- ---------- BASIC WEIGHTED AVERAGE NUMBER OF SHARES 5,003,639 4,958,292 4,959,882 5,008,404 Effect of dilutive stock options and other contingent --------- --------- --------- --------- shares DILUTED WEIGHTED AVERAGE NUMBER OF SHARES 5,003,639 4,958,292 4,959,882 5,008,404 ========= ========= ========= ========= Basic earnings per share $(0.50) $(0.26) $(0.55) $(0.22) ======= ======= ======= ======= Diluted earning per share $(0.50) $(0.26) $(0.55) $(0.22) ======= ======= ======= =======
During the nine-month period-ended March 31, 2001, the Company issued 95,767 shares of common stock, which reflected 69,739 and 25,982 weighted average shares for the three-month and nine-month period ended March 31, 2001, respectively. During the three-month period-ended March 31, 2001, the Company issued options to purchase 174,000 shares of its common stock at an exercise price of $2.00. The above dilutive earnings per share calculations exclude the effect of warrants and options to purchase 1,624,500 and 1,624,500 shares of common stock for the three-month and nine-month periods ended March 31, 2001, respectively, at exercise prices ranging from $2.00 to $12.00 respectively, because they were anti-dilutive. The above dilutive earnings per share calculations exclude the effect of warrants and options to purchase 329,000 and 329,000 shares of common stock for the three-month and nine-month periods ended March 31, 2000, respectively, at exercise prices ranging from $10.00 to $12.00 respectively, because they were anti-dilutive. Also, see Note 3 to the Consolidated Condensed Financial Statements related to contingently issuable shares related to an acquisition. The effect of contingent shares related to the first earn-out of American Micro is not included, as such payment was paid in cash in March 2000. The effect of contingent shares related to second earn-out of American Micro is not included, as such amount was recognized with the issuance of the notes payable to the former shareholders.