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EXHIBIT 11. STATEMENT RE COMPUTATION OF PER SHARE EARNINGS (UNAUDITED)
(Dollars in thousands, except per share amounts)
FOR THE THREE MONTHS FOR THE NINE MONTHS
ENDED SEPTEMBER 30, ENDED SEPTEMBER 30,
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1995 1994 1995 1994
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Net income (loss) -
Income from continuing operations before
extraordinary item $ 23,720 $ 2,908 $ 28,343 $ 8,714
Income (loss) from discontinued operations 90 2,792 (1,963) (1,310)
Extraordinary item (400) - (400) -
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Net income $ 23,410 $ 5,700 $ 25,980 $ 7,404
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ADJUSTMENTS TO COMMON SHARES OUTSTANDING
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Average number of shares of common stock 10,012,196 8,010,275 8,662,452 8,024,458
Primary adjustment:
Assume exercise of options 61,758 - 54,120 -
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Total average number of common and common
equivalent shares used for primary computation 10,073,954 8,010,275 8,716,572 8,024,458
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Average number of shares of common stock 10,012,196 8,010,275 8,662,452 8,024,458
Fully diluted adjustment:
Assume exercise of options 114,194 - 104,220 -
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Total average number of common and common
equivalent shares used for fully diluted computation 10,126,390 8,010,275 8,766,672 8,024,458
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INCOME (LOSS) PER COMMON SHARE
- - ------------------------------
Net income (loss) per common share - Primary
Income from continuing operations before
extraordinary item $ 2.35 $ 0.36 $ 3.25 $ 1.08
Income (loss) from discontinued operations 0.01 0.35 (0.22) (0.16)
Extraordinary item (0.04) - (0.05) -
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Net income per common share - Primary $ 2.32 $ 0.71 $ 2.98 $ 0.92
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Net income (loss) per common share - Fully Diluted
Income from continuing operations before
extraordinary item $ 2.34 $ 0.36 $3.23 $ 1.08
Income (loss) from discontinued operations 0.01 0.35 (0.22) (0.16)
Extraordinary item (0.04) - (0.05) -
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Net income per common share - Fully Diluted $ 2.31 $ 0.71 $2.96 $ 0.92
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