Earnings (Loss) Per Share
A summary of the reconciliation from basic earnings (loss) per share to
diluted earnings (loss) per share for the three month periods ended March 31,
1998 and 1997 follows:
March 31
1998 1997
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Net earnings (loss) 1,666,592 (6,902,335)
Preferred stock dividends 77,875 --
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Net income available to common stock holders 1,588,717 (6,902,335)
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Basic EPS-weighted average shares outstanding 10,380,260 7,853,134
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Basic earnings (loss) per share $ 0.15 $ (0.87)
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Basic EPS-weighted average shares outstanding 10,380,260 --
Effect of diluted securities:
Options and warrants 276,860 --
Convertible preferred stock 569,638 --
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Dilutive EPS-weighted average shares outstanding 11,226,758 --
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Diluted Earnings (loss) per share $ 0.14 --
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Convertible debt not included in diluted EPS since
antidilutive 1,801,749 --
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