Exhibit 11: Earnings per share
The following table reconciles the numerators and denominators of the basic and diluted
earnings per share:
Three months Six Months
ended May 31, ended May 31,
2001 2000 2001 2000
---------- ---------- ---------- ----------
BASIC EARNINGS (LOSS) PER COMMON SHARE:
- ---------------------------------------
NUMERATOR
Net income (loss) 179,456 (222,865) 488,962 154,797
DENOMINATOR
Weighted average number of shares
Outstanding 1,415,833 2,030,721 1,381,095 2,866,518
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PER SHARE AMOUNTS
Net income (loss) 0.13 (0.11) 0.35 0.05
DILUTED EARNINGS PER SHARE
- --------------------------
NUMERATOR
Net income (loss) 179,456 (222,865) 488,962 154,797
DENOMINATOR
Weighted average number of shares
Outstanding 1,415,833 2,030,721 1,381,095 2,866,518
Effect of dilutive securities:
Options and warrants 27,200 - 27,200 254,356
Stock acquired with proceeds (17,521) - (20,499) (188,189)
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Weighted average common shares and
assumed conversions outstanding 1,425,512 2,030,721 1,387,796 2,932,685
===============================================
PER SHARE AMOUNTS
Net income (loss) 0.13 (.11) 0.35 .05
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