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Content analysis
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8th grade Good
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Exhibit 11
ITT EDUCATIONAL SERVICES, INC.
COMPUTATION OF BASIC AND DILUTED EARNINGS PER SHARE
(In thousands, except per share data)
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| Three Months Ended March 31, |
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| 2003 |
| 2002 |
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Net income |
| $ | 8,682 |
| $ | 6,407 |
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Shares: |
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Weighted average number of shares of common stock outstanding (a) |
| 45,014 |
| 46,148 |
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Shares assumed issued (less shares assumed purchased for treasury) on stock options (a) |
| 1,028 |
| 1,094 |
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Outstanding shares for diluted earnings per share calculation (a) |
| 46,042 |
| 47,242 |
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Earnings per common share: |
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Basic |
| $ | 0.19 |
| $ | 0.14 |
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Diluted |
| $ | 0.19 |
| $ | 0.14 |
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(a) The number of shares in all prior periods have been restated to reflect the two-for-one stock split declared on May 10, 2002 that became effective on June 6, 2002.