Exhibit 11.1
Computation of Loss Per Share
(Unaudited)
Basic and Diluted Loss Per Share
Loss (numerator) | Shares (denominator) | Per-share amount | ||||||||||||||||
For the three months ended March 31, 2001 | ||||||||||||||||||
Loss available to common shareholders | $ | (1,257,000 | ) | 25,963,000 | $ | (.05 | ) | |||||||||||
Effect of dilutive securities – employee and producer stock options (1) | — | — | — | |||||||||||||||
Diluted loss per share | $ | (1,257,000 | ) | 25,963,000 | $ | (.05 | ) | |||||||||||
For the three months ended March 31, 2000 | (Restated) | (Restated) | ||||||||||||||||
Loss available to common shareholders before cumulative effect of accounting change | $ | (821,000 | ) | 26,345,000 | $ | (.03 | ) | |||||||||||
Cumulative effect of accounting change | (226,000 | ) | — | (.01 | ) | |||||||||||||
Loss available to common shareholders | $ | (1,047,000 | ) | 26,345,000 | (.04 | ) | ||||||||||||
Effect of dilutive securities – employee and producer stock options (1) | — | — | — | |||||||||||||||
Diluted loss per share | $ | (1,047,000 | ) | 26,345,000 | $ | (.04 | ) | |||||||||||
(1) | The diluted share base for the three months ended March 31, 2001 and 2000 exclude incremental shares of 2,734,000 and 2,293,000, respectively, related to employee and non-employee stock options. These shares are excluded due to their antidilutive effect as a result of the Company’s net losses incurred during the respective periods. |