1
EXHIBIT 11.1
YEARS ENDING DECEMBER 31,
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1993 1992 1991
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PRIMARY
Weighted average shares outstanding................. 19,807,092 17,506,233 17,355,953
Net effect of diluting stock options................ 32,401 178,218 140,419
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Total..................................... 19,839,493 17,684,451 17,496,372
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Net income before Extraordinary Loss................ $13,987,733 $ 2,254,758 $21,073,561
Extraordinary Loss.................................. (1,113,486)
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Net Income.......................................... $12,874,247 $ 2,254,758 $21,073,561
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Net income per share before extraordinary loss...... $ 0.71 $ 0.13 $ 1.20
Extraordinary loss per share........................ (0.06)
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Net income per share................................ $ 0.65 $ 0.13 $ 1.20
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FULLY DILUTED
Weighted average shares outstanding................. 19,807,092 17,506,233 17,355,953
Net effect of diluting stock options................ 71,168 178,218 277,032
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Total..................................... 19,878,260 17,684,451 17,632,985
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Net income before Extraordinary Loss................ $13,987,733 $ 2,254,758 $21,073,561
Extraordinary Loss.................................. (1,113,486)
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Net Income.......................................... $12,874,247 $ 2,254,758 $21,073,561
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Net income per share before extraordinary loss...... $ 0.71 $ 0.13 $ 1.20
Extraordinary loss per share........................ (0.06)
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Net income per share................................ $ 0.65 $ 0.13 $ 1.20
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F-30