Exhibit No. 11
STATEMENT OF COMPUTATION OF EARNINGS PER SHARE
Nine Months Ended September 30, 2003 | Three Months Ended September 30, 2003 | |||||||||
Shares | Earnings Per Share | Shares | Earnings Per Share | |||||||
(in Thousands) | (in Thousands) | |||||||||
Basic Weighted Average Shares Outstanding | 5,695 | $ | 0.88 | 5,695 | $ | 0.30 | ||||
Diluted | ||||||||||
Average Shares Outstanding | 5,695 | 5,695 | ||||||||
Common Stock Equivalents | 25 | 25 | ||||||||
5,720 | $ | 0.88 | 5,720 | $ | 0.30 | |||||
Nine Months Ended September 30, 2002 | Three Months Ended June 30, 2002 | |||||||||
Shares | Earnings Per Share | Shares | Earnings Per Share | |||||||
(in Thousands) | (in Thousands) | |||||||||
Basic Weighted Average Shares Outstanding | 5,548 | $ | 0.80 | 5,695 | $ | 0.27 | ||||
Diluted | ||||||||||
Average Shares Outstanding | 5,548 | 5,695 | ||||||||
Common Stock Equivalents | 14 | 14 | ||||||||
5,562 | $ | 0.80 | 5,709 | $ | 0.27 | |||||
All per share data has been adjusted to reflect a 5-for-4 stock split effected as a 25% stock dividend on September 1, 2003.