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, 1998 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 month periods ended March 31, 1998 and 1999:
THREE MONTHS
ENDED MARCH 31,
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1998 1999
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Net income ............................................................... $ 2,646 $ 4,377
Preferred stock dividends ................................................ 150 29
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Net income available to common stockholders for
basic EPS computation ................................................. 2,496 4,348
Effect of dilutive securities ............................................ 150 --
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Net income available to common stockholders for
diluted EPS computation ............................................... $ 2,646 $ 4,348
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Weighted average number of common shares
outstanding for basic EPS computation ................................. 11,152 15,808
Effect of dilutive securities:
Stock options ....................................................... 175 354
Assumed conversion of preferred stock ............................... 795 --
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Weighted average number of common and common
equivalent shares outstanding for diluted EPS
computation ........................................................... 12,122 16,162
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Earnings per share:
Basic ............................................................... $ .22 $ .28
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Diluted ............................................................. $ .22 $ .27
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