Exhibit 11
ITT EDUCATIONAL SERVICES, INC.
COMPUTATION OF BASIC AND DILUTED EARNINGS PER SHARE
(In thousands, except per share data)
| Three Months Ended March 31, | |||||
|---|---|---|---|---|---|
| 2000 |
1999 |
||||
| Net income |
$ 1,205 |
$ 6,519 |
|||
| |
|
||||
| Shares: | |||||
| Weighted average number of shares | |
|
|||
|
|
of common stock outstanding |
24,506
|
26,057 |
||
| |
|
||||
| Shares assumed issued |
|
|
|||
|
|
(less shares assumed purchased | |
|
||
| for treasury) on stock options | 81
|
240
|
|||
| |
|
||||
| Outstanding shares for diluted |
|
|
|||
|
|
earnings per share calculation |
24,587 |
26,297 |
||
| |
|
||||
| Earnings per common share: |
|
|
|||
| Basic | $ 0.05 |
$ 0.25 |
|||
| Diluted |
$ 0.05
|
$ 0.25 |
|||