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New words:
adherence, adjoining, advertising, aggregate, area, awarded, bring, buyer, call, campaign, carryover, clarify, Committee, conducted, constitute, consummate, consummated, data, demonstrate, derivative, detriment, eleven, embedded, evidence, exceed, expansion, failed, Fatburger, feature, fifteen, final, Florida, forward, franchise, franchisee, free, furniture, gave, Georgia, goal, half, hamburger, immaterial, inception, indefinite, Irwindale, issuer, iv, LA, lawsuit, lessor, Louisiana, mandatory, merchant, merit, Michigan, minimum, noncancelable, Nonrefundable, Official, Ohio, outlined, plant, prepay, preventing, recover, recovered, redeemable, redeemed, redemption, refusal, reposition, reselling, restaurant, retroactive, royalty, satellite, satisfied, size, spot, succeeding, support, tangible, trademark, training, treated, trustee, ultimate, Unamortized, undiluted, unfair, unsecured, waiver, Washington, zoned
Removed:
broker, discussed, employee, establishment, guidance, organization, origination, professional, speed, unrated
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EXHIBIT 11.1
COMPUTATION OF PER SHARE EARNINGS
|
| Three Months Ended |
| Nine Months Ended |
| ||||||||
|
| 2003 |
| 2002 |
| 2003 |
| 2002 |
| ||||
Diluted net income per share: |
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Net income to common shareholders |
| $ | 554,000 |
| $ | 1,650,000 |
| $ | 4,800,000 |
| $ | 11,807,000 |
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Average number of shares outstanding |
| 8,670,575 |
| 9,764,343 |
| 8,585,550 |
| 9,997,472 |
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Net effect of dilutive stock options based on treasury stock method |
| 1,075,666 |
| 13,500 |
| 1,075,666 |
| 13,500 |
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Net effect of dilutive put option agreements based on the reverse |
| — |
| 129,722 |
| — |
| 110,540 |
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Total average shares |
| 9,746,241 |
| 9,907,565 |
| 9,661,216 |
| 10,121,512 |
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Diluted net income per share |
| $ | 0.06 |
| $ | 0.17 |
| $ | 0.50 |
| $ | 1.17 |
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