Exhibit 11.1 Computation of Earnings Per Share (Unaudited) Basic Earnings Per Share Three Months Ended Six Months Ended June 30, June 30, 1999 1998 1999 1998 ---- ---- ---- ---- Weighted average shares outstanding - basic 26,437,347 26,592,383 26,418,217 26,643,344 Net income $ 2,322,017 $ 3,019,143 $ 5,115,765 $ 4,425,059 ----------- ----------- ----------- ----------- Basic net income per share $ 0.09 $ 0.11 $ 0.19 $ 0.17 =========== =========== =========== =========== Page 18 of 20