EX-11 4 dex11.txt COMPUTATION OF EARNINGS PER COMMON SHARE COMDIAL CORPORATION AND SUBSIDIARIES EXHIBIT 11 SCHEDULE OF COMPUTATION OF EARNINGS PER COMMON SHARE
---------------------------------------------------------------------------------------------------------------------------- Years Ended December 31, 2000 1999 1998 (As Restated - (As Restated - See Note 18) See Note 18) ---------------------------------------------------------------------------------------------------------------------------- BASIC Net income applicable to common shares: $(63,264,000) $7,343,000 $17,032,000 ============================================================================================================================ Weighted average number of common shares outstanding during the period 9,169,647 8,916,842 8,794,584 Add - Contingency shares - 17,082 42,017 Deferred shares 17,893 13,635 6,756 -------------------------------------------------------------- Weighted average number of shares used in cal- culation of basic earnings per common share 9,187,540 8,947,559 8,843,357 ============================================================================================================================ Basic earnings per common share: ($6.89) $0.82 $1.93 ============================================================================================================================ DILUTED Net income applicable to common shares - basic: ($63,264,000) $7,343,000 $17,032,000 ============================================================================================================================ Weighted average number of shares used in cal- culation of basic earnings per common share 9,187,540 8,947,559 8,843,357 Add (deduct) incremental shares representing: Shares issuable based on period-end market price or weighted average price: Stock options - 41,521 237,713 ---------------------------------------------------------------------------------------------------------------------------- Weighted average number of shares used in calcula- tion of diluted earnings per common share 9,187,540 8,989,080 9,081,070 ============================================================================================================================ Diluted earnings per common share ($6.89) $0.82 $1.88 ============================================================================================================================