EXHIBIT 11
Statement of Computation of Per Share Earnings
Set forth below are the bases for the computation of earnings per share for the periods shown.
|
| Three Months Ended |
| ||||
|
| March 31, |
| ||||
|
| 2008 |
| 2007 |
| ||
Earnings Per Common Share |
|
|
|
|
| ||
Basic |
| $ | 0.10 |
| $ | 0.14 |
|
Average Shares Outstanding |
| 7,610,039 |
| 7,108,923 |
| ||
Diluted |
| $ | 0.10 |
| $ | 0.14 |
|
Average Shares Outstanding (including dilutive effect of stock options) |
| 7,748,962 |
| 7,293,827 |
| ||
|
| Fiscal Year Ended |
| ||||
|
| December 31, |
| ||||
|
| 2007 |
| 2006 |
| ||
Earnings Per Common Share |
|
|
|
|
| ||
Basic |
| $ | 0.53 |
| $ | 0.53 |
|
Average Shares Outstanding |
| 7,607,780 |
| 7,103,243 |
| ||
Diluted |
| $ | 0.52 |
| $ | 0.51 |
|
Average Shares Outstanding (including dilutive effect of stock options) |
| 7,767,604 |
| 7,345,127 |
| ||
