EX-11 2 a2132441zex-11.htm EXHIBIT 11
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EXHIBIT 11

GOLDEN STATE VINTNERS, INC.

STATEMENT REGARDING COMPUTATION OF PER SHARE EARNINGS (LOSS)

(IN THOUSANDS, EXCEPT PER SHARE DATA)

Basic and fully diluted earnings (loss) per share ("EPS") are determined as follows:

		Three Months Ended March 31,					Nine Months Ended March 31,
		2004		2003			2004		2003
Basic EPS Computation
Numerator:
	Net income (loss)	$	1,278	$	(6,343	)	$	7,389	$	(2,241	)

Denominator:
	Weighted average common shares		9,513		9,513			9,513		9,513

Basic EPS		$	0.13	$	(0.67	)	$	0.78	$	(0.24	)

Diluted EPS Computation
Numerator:
	Net income (loss) and assumed conversions	$	1,278	$	(6,343	)	$	7,389	$	(2,241	)

Denominator:
	Weighted average common shares outstanding		9,513		9,513			9,513		9,513
	Stock options		131		—			29		—

	Adjusted weighted average common shares		9,644		9,513			9,542		9,513

Diluted EPS		$	0.13	$	(0.67	)	$	0.77	$	(0.24	)