Exhibit 11 (continued)
Computation of Earnings Per Share
Unaudited
Diluted Earnings Per Share
Three Months Ended | Six Months Ended | ||||||||||||||||
June 30, | June 30, | ||||||||||||||||
1999 | 1998 | 1999 | 1998 | ||||||||||||||
(Restated) | (Restated) | ||||||||||||||||
Weighted average shares outstanding – basic | 26,437,347 | 26,592,383 | 26,418,217 | 26,643,344 | |||||||||||||
Plus incremental shares from assumed conversions | 877,382 | — | 862,217 | — | |||||||||||||
Number of shares for computation of diluted | 27,314,729 | 26,592,383 | 27,280,434 | 26,643,344 | |||||||||||||
net income per share | |||||||||||||||||
Net income | $ | 1,905,962 | $ | 3,019,143 | $ | 4,699,710 | $ | 4,425,059 | |||||||||
Diluted net income per share | $ | 0.07 | $ | 0.11 | $ | 0.17 | $ | 0.17 | |||||||||
18