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EXHIBIT 11.1
FINANCIAL PACIFIC INSURANCE GROUP, INC.
COMPUTATION OF NET INCOME PER SHARE
FOR THE FIVE YEARS ENDED DECEMBER 31, 1997
Year Ended December 31,
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1993 1994 1995 1996 1997
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Weighted average shares outstanding
- (fully diluted):
# of shares outstanding @ EOY 5,271.571 6,046.571 7,551.971 7,576.971 7,606.971
Stock split adjustment (394.375 to 1) 394.375 394.375 394.375 394.375 394.375
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Net adjusted shares 2,078,976.376 2,384,617.083 2,978,309.369 2,988,168.747 3,000,000.000
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Weighted average # of shares outstanding 2,078,976.376 2,231,796.730 2,681,463.226 2,983,239.058 2,994,084.374
Rounded 2,079 2,232 2,681 2,983 2,994
Earnings per share:
Net Income $ 1,209,783 $ 777,080 $ 2,149,504 $ 2,003,286 $ 2,342,003
Weighted average # of shares outstanding 2,078,976.376 2,231,796.730 2,681,463.226 2,983,239.058 2,994,084.374
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Earnings per share $ 0.58 $ 0.35 $ 0.80 $ 0.67 $ 0.78
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FINANCIAL PACIFIC INSURANCE GROUP, INC.
COMPUTATION OF NET INCOME PER SHARE
FOR THE FIVE YEARS ENDED DECEMBER 31, 1997
Year Ended December 31,
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1993 1994 1995 1996 1997
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Supporting Schedule of Number of Shares
Outstanding - Fully Diluted:
Preferred Stock 3,650.001 4,400.001 4,400.001 4,400.001 4,400.001
Common Stock 1,232.284 1,232.284 1,232.284 1,232.284 1,232.284
Original Purchase - Common Stock Warrants 389.286 389.286 389.286 389.286 389.286
Senior Notes - Commons Stock Warrants 1,505.400 1,505.400 1,505.400
Vested management options 25.000 25.000 50.000 80.000
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5,271.571 6,046.571 7,551.971 7,576.971 7,606.971
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