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 and six month periods ended June 30, 2000
and 1999 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 and six month periods ended June 30, 1999 and 2000:
THREE MONTHS SIX MONTHS
ENDED JUNE 30, ENDED JUNE 30,
------------------------ ------------------------
1999 2000 1999 2000
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Net income before extraordinary item ..................... $ 3,096 $ 166 $ 7,474 $ 3,072
Extraordinary item ....................................... (200) -- (200) --
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Net income ............................................... 2,896 166 7,274 3,072
Preferred stock dividends ................................ 28 20 56 40
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Net income available to common stockholders for basic EPS
computation .......................................... 2,868 146 7,218 3,032
Effect of dilutive securities ............................ -- -- 291 40
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Net income available to common stockholders for diluted
EPS computation ...................................... $ 2,868 $ 146 $ 7,509 $ 3,072
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Weighted average number of common shares outstanding for
basic EPS computation ................................ 15,877 16,027 15,843 16,002
Effect of dilutive securities:
Stock options ....................................... 458 98 424 213
Assumed conversion of preferred stock ............... -- -- 714 409
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Weighted average number of common and common equivalent
shares outstanding for diluted EPS computation ....... 16,335 16,125 16,981 16,624
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Basic earnings per share:
Net income before extraordinary item ................ $ .19 $ .01 $ .47 $ .19
Extraordinary item .................................. (.01) -- (.01) --
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Net income .......................................... $ .18 $ .01 $ .46 $ .19
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Diluted earnings per share:
Net income before extraordinary item ................ $ .19 $ .01 $ .45 $ .19
Extraordinary item .................................. (.01) -- (.01) --
---------- ---------- ---------- ----------
Net income .......................................... $ .18 $ .01 $ .44 $ .19
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