1
THRIFT MANAGEMENT, INC. AND SUBSIDIARIES
EXHIBIT 11--STATEMENT RE: COMPUTATION OF PER SHARE EARNINGS
The following table presents the computation of basic and diluted
earnings per share:
Three Months Ended Six Months Ended
---------------------------- -------------------------------
June 28, June 30, June 28, June 30,
1998 1997 1998 1997
------------ ----------- ------------- ------------
Numerator:
Net (loss) income $ (115,829) $ 33,284 $ ($27,826) $ 101,285
----------- ----------- ------------ ------------
Denominator:
Denominator for basic earnings per
share--weighted-average shares 2,155,000 2,125,000 2,150,000 2,125,000
Effect of dilutive securities:
Employee stock options 46,500 46,500
----------- ----------- ------------ ------------
Denominator for diluted earnings per share 2,201,500 2,125,000 2,196,500 2,125,000
=========== =========== ============ ============
Earnings per share:
Basic $ ($0.05) $ 0.02 $ ($0.01) $ 0.05
=========== =========== ============ ============
Diluted $ ($0.05) $ 0.02 $ ($0.01) $ 0.05
=========== =========== ============ ============