EXHIBIT 11 COMPUTATION OF EARNINGS PER SHARE (in Thousands, Except Per Share Data) For the Years Ended December 31, -------------------------------- 1998 1997 1996 ------ ------ ------ NET INCOME (LOSS) $(4,339) $ 1,717 $ 3,319 ====== ====== ====== BASIC EARNINGS (LOSS) PER SHARE Weighted average common shares outstanding 4,087 4,040 4,015 ====== ====== ====== Basic earnings (LOSS) per share $ (1.06) $ 0.43 $ 0.83 ====== ====== ====== DILUTED EARNINGS (LOSS) PER SHARE Weighted average common shares outstanding 4,087 4,040 4,015 Add - Dilutive effect of outstanding options (as determined by the application of the treasury stock method) 0 72 92 ------ ------ ------ Adjusted weighted average common shares outstanding 4,087 4,212 4,107 ====== ====== ====== Diluted earnings (loss) per share $ (1.06) $ 0.42 $ 0.81 ====== ====== ======