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EXHIBIT 11.1 COMPUTATION OF NET INCOME PER SHARE
Three Months Ended
March 31,
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2000 1999
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Basic:
Net income attributable to common shares........... $ (5,318) $ 1,428
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Weighted average common shares outstanding......... 22,103 22,068
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Per share amount................................... $ (0.24) $ 0.06
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Diluted:
Net income......................................... $ (5,318) $ 1,428
Net effect of convertible debentures based on the
if-converted method, assuming 100% conversion:
$35,000,000, 6.75%, due 2006................... 391 391
$50,000,000, 7.0%, due 2004.................... 587 587
$143,750,000, 5.25%, due 2002.................. 1,295 1,295
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Net income (loss) attributable to common shares.... $ (3,045) $ 3,701
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Weighted average common shares outstanding......... 22,103 22,068
Net effect of convertible debentures based on the
if-converted method, assuming 100% conversion:
$35,000,000, 6.75%, due 2006................... 1,717 1,717
$50,000,000, 7.0%, due 2004.................... 2,469 2,469
$143,750,000, 5.25%, due 2002.................. 5,000 5,000
Net effect of dilutive stock options based
on the Treasury stock method, using average
market price...................................... 88 483
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Totals......................................... 31,377 31,737
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Per share amount................................... $ (0.10) $0.12
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