EXHIBIT 11.1
CARRIAGE SERVICES, INC.
COMPUTATION OF PER SHARE EARNINGS
(UNAUDITED AND IN THOUSANDS, EXCEPT PER SHARE DATA)
Earnings per share for the three month periods ended March 31, 1999 and 2000
is calculated based on the weighted average number of common and common
equivalent shares outstanding during the period as prescribed by SFAS 128. The
following table sets forth the computation of the basic and diluted earnings per
share for the three month periods ended March 31, 1999 and 2000:
THREE MONTHS
ENDED MARCH 31,
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1999 2000
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Net income ..................................... $ 4,377 $ 2,906
Preferred stock dividends ...................... 29 20
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Net income available to common stockholders for
basic EPS computation ....................... 4,348 2,886
Effect of dilutive securities .................. -- 20
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Net income available to common stockholders for
diluted EPS computation ..................... $ 4,348 $ 2,906
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Weighted average number of common shares
outstanding for basic EPS computation ....... 15,808 15,977
Effect of dilutive securities:
Stock options ............................. 354 --
Assumed conversion of preferred stock ..... -- 258
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Weighted average number of common and common
equivalent shares outstanding for diluted EPS
computation ................................. 16,162 16,235
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Earnings per share:
Basic ..................................... $ .28 $ .18
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Diluted ................................... $ .27 $ .18
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20