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THRIFT MANAGEMENT, INC. AND SUBSIDIARIES
EXHIBIT 11.1--STATEMENT RE: COMPUTATION OF PER SHARE EARNINGS
The following table presents the computation of basic and diluted earnings per
share:
Three Months Ended Nine Months Ended
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Sept. 27, Sept. 30, Sept. 27, Sept. 30,
1998 1997 1998 1997
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Numerator:
Net (loss) income $ (223,332) $ 41,072 $ (254,983) $ 142,357
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Denominator:
Denominator for basic earnings per
share--weighted-average shares 2,175,000 2,125,000 2,160,000 2,125,000
Effect of dilutive securities:
Employee stock options 137,000 137,000
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Denominator for diluted earnings per share 2,312,000 2,125,000 2,297,000 2,125,000
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Earnings per share:
Basic $ (0.10) $ 0.02 $ (0.12) $ 0.07
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Diluted $ (0.10) $ 0.02 $ (0.11) $ 0.07
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