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 period ended March 31, 1998 and 1997
is calculated based on the weighted average number of common and common
equivalent shares outstanding during the period as proscribed by SFAS 128. The
following table sets forth the computation of the basic and diluted earnings per
share for the three month period ended March 31, 1997 and 1998:
THREE MONTHS
ENDED MARCH 31,
-----------------
1997 1998
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Net income ................................................. $ 1,825 $ 2,646
Preferred stock dividends .................................. 363 150
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Net income available to common stockholders
for basic EPS computation ............................... 1,462 2,496
Effect of dilutive securities .............................. 182 150
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Net income available to common stockholders
for diluted EPS computation
$ 1,644 $ 2,646
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Weighted average number of common shares
outstanding for basic EPS computation ................... 9,072 11,151
Effect of dilutive securities:
Stock options ......................................... 330 175
Assumed conversion of preferred stock ................. 1,184 796
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Weighted average number of common and common equivalent
shares outstanding for diluted EPS computation .......... 10,586 12,122
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Earnings per share:
Basic $ .16 $ .22
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Diluted $ .16 $ .22
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