EXHIBIT 11.1
STATEMENT REGARDING COMPUTATION OF EARNINGS PER SHARE
(In thousands, except per share data)
(unaudited)
Three Months Ended Six Months Ended
June 30, June 30,
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2003 2002 2003 2002
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Net Income............................. $ 7,404 $ 7,388 $ 14,167 $ 14,756
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Basic earnings per share............... $ 0.14 $ 0.14 $ 0.28 $ 0.29
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Weighted average shares
outstanding-basic...................... 51,490 51,449 51,324 51,331
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Diluted earnings per share............. $ 0.14 $ 0.14 $ 0.27 $ 0.27
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Weighted average shares
outstanding-diluted.................... 53,633 53,974 53,453 53,966
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Calculation of weighted average shares:
Weighted average common stock
outstanding-basic................... 51,490 51,449 51,324 51,331
Weighted average common stock
options, utilizing the treasury
stock method........................ 2,143 2,525 2,129 2,635
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Weighted average shares
outstanding-diluted.................... 53,633 53,974 53,453 53,966
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