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EXHIBIT 11.1
COMPUTATION OF NET LOSS PER SHARE
1997 1996 1995
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(IN THOUSANDS, EXCEPT PER SHARE DATA)
Basic:
Net loss attributable to common shares....... $(8,263) $(8,796) $(3,011)
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Weighted average common shares outstanding... 18,651 15,429 7,782
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Per share amount............................. $ (0.44) $ (0.57) $ (0.39)
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Diluted:
Net loss..................................... $(8,263) $(8,796) $(3,011)
Net effect of convertible debentures based
on the if-converted method, assuming
100% conversion:
$35,000,000, 6.75%, due 2006................. 2,363 1,457 --
$50,000,000, 7.0%, due 2004.................. 2,178 -- --
$125,000,000, 5.25%, due 2002................ 219 -- --
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Net loss attributable to common shares........... $(3,504) $(7,339) $(3,011)
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Weighted average common shares outstanding....... 18,651 15,429 7,782
Net effect of convertible debentures based
on the if-converted method, assuming
100% conversion:
$35,000,000, 6.75%, due 2006................. 1,561 949 --
$50,000,000, 7.0%, due 2004.................. 1,515 -- --
$125,000,000, 5.25%, due 2002................ 143 -- --
Net effect of dilutive stock options based
on the treasury stock method, using
average market price......................... 380 314 176
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Totals........................................... 22,250 16,692 7,958
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Per share amount................................. $ (0.16) $ (0.44) $ (0.38)
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