EX-11 20 ex11.htm EXHIBIT 11 Exhibit 11

Exhibit 11

AAMES FINANCIAL CORPORATION
Computation of basic and diluted net income (loss) per common share
For the years ended June 30, 2003, 2002 and 2001
(dollars and weighted average number of shares in thousands)

Year Ended June 30,
   
 2003
 
 2002
 
 2001
 
Basic net income (loss) per common share:              
               
  Net income (loss)  
$ 29,166
 
$ 4,546
 
$ (30,524
)
  Less: Accrued dividends on Series B,  
 
 
            C, and D Convertible Preferred Stock  
(13,469
)
(13,788
)
(13,921
)
   
$ 15,697
 
$ (9,242
)
$ (44,445
)
Basic net income (loss) to common stockholders  
 
 
 
 
 
 
  Basic weighted average number of common  
 
 
 
 
 
 
    shares outstanding  
6,558
 
6,394
 
6,251
 
  Basic net income (loss) per common share  
$ 2.39
 
$ (1.45
)
$ (7.11
)
               
Diluted net income (loss) per common share:  
 
 
 
 
 
 
               
  Basic net income (loss) to common stockholders  
$ 15,697
 
$ (9,242
) 
$ (44,445
)
  Plus: Accrued dividends on Series B,  
 
 
 
 
 
 
            C, and D Convertible Preferred Stock  
13,469
 
--
 
--
 
  Diluted net income (loss) to common stickholders  
$ 29,166
 
$ (9,242
)
$ (44,445
)
  Basic weighted average number of common  
 
 
 
 
 
 
    shares outstanding  
6,558
 
6,394
 
6,251
 
  Plus: Incremental shares from assumed conversions  
 
 
 
 
 
 
               of Series B, C and D Convertible Preferred Stock  
85,547
 
--
 
--
 
           Incremental shares from assumed exercise of:  
 
 
 
 
 
 
               Warrants  
1,288
 
--
 
--
 
                                                                              
 
 
 
 
                Common Stock options  
2,660
 
--
 
--
 
                                                                              
 
 
 
 
  Diluted weighted average number of common  
 
 
 
 
 
 
    shares outstanding  
96,053
 
6,394
 
6,251
 
  Diluted net income (loss) per common share  
$ 0.30
 
$ (1.45
)
$ (7.11
)