EXHIBIT (11)
STATEMENT REGARDING COMPUTATION OF PER SHARE EARNINGS (LOSS):
(A) Computation of the weighted average number of shares of common stock
outstanding for the periods indicated:
QUARTERS ENDED JULY 1, 1999 AND JULY 2, 1998
WEIGHTED
SHARES OF NUMBER OF DAYS NUMBER OF NUMBER OF SHARES
COMMON STOCK OUTSTANDING SHARE DAYS OUTSTANDING
------------ -------------- ---------- ----------------
Quarter Ended July 1, 1999
- --------------------------
April 2 - July 1 6,886,050 91 626,630,537
Shares Issued 12,352 Various 692,498
--------- -----------
6,898,402 627,323,035 6,893,660
========= =========== =========
Quarter Ended July 2, 1998
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April 3 - July 2 6,817,786 91 620,418,520
Shares Issued 4,912 Various 280,641
--------- -----------
6,822,698 620,699,161 6,820,870
========= =========== =========
THREE QUARTERS ENDED JULY 1, 1999 AND JULY 2, 1998
WEIGHTED
SHARES OF NUMBER OF DAYS NUMBER OF NUMBER OF SHARES
COMMON STOCK OUTSTANDING SHARE DAYS OUTSTANDING
------------ -------------- ---------- ----------------
Period Ended July 1, 1999
- -------------------------
October 1 - July 1 6,861,252 274 1,879,983,048
Treasury Stock Purchases ( 2,374) Various ( 218,421)
Shares Issued 39,524 Various 5,001,951
--------- -------------
6,898,402 1,884,766,578 6,878,710
========= ============= =========
Period Ended July 2, 1998
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October 1 - July 2 6,646,677 275 1,827,836,139
Treasury Stock Purchases ( 7,801) Various ( 733,306)
Shares Issued 183,822 Various 25,314,319
--------- -------------
6,822,698 1,852,417,152 6,736,062
========= ============= =========
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(B) Computation of Earnings (Loss) Per Share:
Computation of earnings (loss) per share is net earnings (loss) divided by the
weighted average number of shares of common stock outstanding for the periods
indicated:
QUARTER ENDED THREE QUARTERS ENDED
July 1, July 2, July 1, July 2,
1999 1998 1999 1998
------------ ----------- ------------ -----------
Basic:
Weighted average number of shares
of common stock outstanding 6,893,660 6,820,870 6,878,710 6,736,062
---------- ---------- ---------- ----------
Net earnings (loss) ($ 533,180) $ 131,904 ($2,250,998) ($ 572,033)
---------- ---------- ---------- ----------
Net earnings (loss) per share($ 0.08) $ 0.02 ($ 0.33) ($ 0.09)
========== ========== ========== ==========
Assuming dilution:
Weighted average number of shares
of common stock outstanding 6,893,660 6,820,870 6,878,710 6,736,062
Net effect of dilutive stock
options-not included if the
effect was antidilutive 0 6,598 0 0
---------- ---------- ---------- ----------
Total 6,893,660 6,827,468 6,878,710 6,736,062
---------- ---------- ---------- ----------
Net earnings (loss) ($ 533,180) $ 131,904 ($2,250,998) ($ 572,033)
---------- ---------- ---------- ----------
Net earnings (loss) per share($ 0.08) $ 0.02 ($ 0.33) ($ 0.09)
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