EXHIBIT 11.1
CARRIAGE SERVICES, INC.
COMPUTATION OF PER SHARE EARNINGS
(IN THOUSANDS, EXCEPT PER SHARE DATA)
Earnings per share for 1998, 1999 and 2000 is calculated based on the
weighted average number of common and common equivalent shares outstanding
during each year as proscribed by SFAS 128. The following table sets forth the
computation of the basic and diluted earnings per share for 1998, 1999 and 2000:
1998 1999 2000
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Net income (loss), before extraordinary item and
cumulative effect of the change in accounting
principle $ 9,533 $ 10,887 $ (93,003)
Extraordinary item -- (200) --
Cumulative effect of the change in accounting
principle, net -- -- (38,993)
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Net income (loss) 9,533 10,687 (131,996)
Preferred stock dividends (606) (93) (81)
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Net income (loss) available to common stockholders for 8,927 10,594 (132,077)
basic EPS computation
Effect of dilutive securities -- 93 --
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Net income (loss) available to common stockholders for
diluted EPS computation $ 8,927 $ 10,687 $ (132,077)
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Weighted average number of common shares outstanding
for basic EPS computation 13,315 15,875 16,056
Effect of dilutive securities:
Series D convertible preferred stock -- 235 --
Stock options 493 26 --
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Weighted average number of common and common
equivalent shares outstanding for diluted EPS
computation 13,808 16,136 16,056
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Basic earnings per share:
Net income (loss), before extraordinary item
and cumulative effect of the change in
accounting principle $ .67 $ .68 $ (5.80)
Extraordinary item -- (.01) --
Cumulative effect of the change in accounting
principle, net -- -- (2.43)
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Net income (loss) $ .67 $ .67 $ (8.23)
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Diluted earnings per share:
Net income (loss), before extraordinary item
and cumulative effect of the change in
accounting principle $ .65 $ .67 $ (5.80)
Extraordinary item -- (.01) --
Cumulative effect of the change in accounting
principle, net -- -- (2.43)
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Net income (loss) $ .65 $ .66 $ (8.23)
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