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EXHIBIT 11.1 COMPUTATION OF NET INCOME PER SHARE
THREE MONTHS ENDED MARCH 31,
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1999 1998
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(IN THOUSANDS, EXCEPT PER SHARE DATA)
Basic:
Net income attributable to common shares........... $ 1,428 $ 3,583
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Weighted average common shares outstanding......... 22,068 21,761
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Per share amount................................... $0.06 $ 0.16
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Diluted:
Net income......................................... $1,428 $ 3,583
Net effect of convertible debentures based on the
if-converted method, assuming 100% conversion:
$35,000,000, 6.75%, due 2006................... 391 591
$50,000,000, 7.0%, due 2004.................... 587 875
$143,750,000, 5.25%, due 2002.................. 1,295 1,887
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Net income attributable to common shares........... $ 3,701 $ 6,936
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Weighted average common shares outstanding......... 22,068 21,761
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............................................ 483 583
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Totals......................................... 31,737 31,530
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Per share amount................................... $ 0.12 $ 0.22
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