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Exhibit 11.1 — Statement Regarding Computation of Per share Earnings
(Unaudited)
(in thousands, except per share data)
Three Months Ended June 30, 2003 | Three Months Ended June 30, 2002 | Nine Months Ended June 30, 2003 | Nine Months Ended June 30, 2002 | |||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Basic | ||||||||||||||
Average Common Shares | ||||||||||||||
outstanding | 4,605 | 4,578 | 4,595 | 4,575 | ||||||||||
Net income | $ | 354 | $ | 281 | $ | 462 | $ | 1,047 | ||||||
Per share amount | $ | .08 | $ | .06 | $ | .10 | $ | .23 | ||||||
Diluted | ||||||||||||||
Average Common Shares | ||||||||||||||
outstanding | 4,605 | 4,578 | 4,595 | 4,575 | ||||||||||
Net effect of dilutive stock | ||||||||||||||
options based on the | ||||||||||||||
Treasury stock method | ||||||||||||||
using the average market price | ||||||||||||||
4 | 37 | 21 | 45 | |||||||||||
Total | 4,609 | 4,615 | 4,616 | 4,620 | ||||||||||
Net income | $ | 354 | $ | 281 | $ | 462 | $ | 1,047 | ||||||
Per share amount | $ | .08 | $ | .06 | $ | .10 | $ | .23 |