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 nine month periods ended September 30,
1999 and 1998 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 nine month periods ended September 30, 1998
and 1999:
THREE MONTHS NINE MONTHS
ENDED SEPTEMBER 30, ENDED SEPTEMBER 30,
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1998 1999 1998 1999
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Net income before extraordinary item ........... $ 1,643 $ 1,739 $ 6,092 $ 9,211
Extraordinary item ............................. -- -- -- (200)
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Net income ..................................... 1,643 1,739 6,092 9,011
Preferred stock dividends ...................... 153 25 454 78
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Net income available to common stockholders
for basic EPS computation .................... 1,490 1,714 5,638 8,933
Effect of dilutive securities .................. -- -- -- --
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Net income available to common stockholders for
diluted EPS computation ...................... $ 1,490 $ 1,714 $ 5,638 $ 8,933
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Weighted average number of common shares
outstanding for basic EPS computation ........ 14,733 15,906 12,772 15,864
Effect of dilutive securities:
Stock options ............................. 491 77 426 185
Assumed conversion of preferred stock ..... -- -- -- --
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Weighted average number of common and common
equivalent shares outstanding for diluted EPS
computation 15,224 15,983 13,198 16,049
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Basic earnings per share:
Net income before extraordinary item ...... $ .10 $ .11 $ .44 $ .58
Extraordinary item ........................ -- -- -- (.01)
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Net income ................................ $ .10 $ .11 $ .44 $ .57
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Diluted earnings per share:
Net income before extraordinary item ...... $ .10 $ .11 $ .43 $ .57
Extraordinary item ........................ -- -- -- (.01)
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Net income ................................ $ .10 $ .11 $ .43 $ .56
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