1 EXHIBIT 11.01 EARNINGS (LOSS) PER COMMON SHARE The following table sets forth the computations of earnings (loss) per common share: THREE MONTHS ENDED ---------------------------------------- 3/31/98 3/31/99 ---------------------------------------- Net Loss ($13,037) ($80,427) =========== =============== Basic loss per share: Weighted average shares outstanding N/A 32,477,995 =============== Basic loss per share N/A ($2.48) =============== Pro forma net income (loss) before extraordinary item ($10,385) $207 Extraodinary item 1,489 ----------- --------------- Net income (loss) ($11,874) $207 =========== =============== Pro forma basic earnings (loss) per share: Weighted average shares outstanding 21,534,000 32,477,995 =========== =============== Basic earnings (loss) per share before extraodinary item ($0.48) $0.01 Extraodinary item 0.07 ----------- --------------- Basic earnings (loss) per share ($0.55) $0.01 =========== =============== Pro forma diluted earnings (loss) per share: Weighted average shares outstanding 21,534,000 32,477,995 Effect of dilutive options 324,875 ----------- --------------- Shares applicable to diluted earnings (loss) per share 21,534,000 32,802,870 =========== =============== Diluted earnings (loss) per share before extraodinary item ($0.48) $0.01 Extraodinary item $0.07 ----------- --------------- Diluted earnings (loss) per share ($0.55) $0.01 =========== ===============