Exhibit 11
Year ended December 31,
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2002 2001 2000
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Basic:
Weighted average shares outstanding 12,630,964 12,724,282 12,238,421
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Net (loss) income:
(Loss) income from continuing operations $ (57) $ 908 $ (141)
Income from discontinued operations - - 459
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(Loss) income before cumulative effect of
change in accounting principle (57) 908 318
Cumulative effect of change in accounting
principle (5,733) - -
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Net (loss) income $ (5,790) $ 908 $ 318
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Basic (loss) income per share:
From continuing operations $ - $ 0.07 $ (0.01)
From discontinued operations - - 0.04
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(Loss) income before cumulative effect of
change in accounting principle - 0.07 0.03
Cumulative effect of change in accounting
principle (0.46) - -
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Total $ (0.46) $ 0.07 $ 0.03
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Diluted:
Weighted average shares outstanding 12,630,964 12,724,282 12,238,421
Net effect of dilutive stock options and warrants
based on the treasury stock method
using the year-end market price, if
higher than average market price - 17,840 -
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Total 12,630,964 12,742,122 12,238,421
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Net (loss) income:
(Loss) income from continuing operations $ (57) $ 908 $ (141)
Income from discontinued operations - - 459
----------- ----------- -----------
(Loss) income before cumulative effect of
change in accounting principle (57) 908 318
Cumulative effect of change in accounting
principle (5,733) - -
----------- ----------- -----------
Net (loss) income $ (5,790) $ 908 $ 318
=========== =========== ===========
Diluted (loss) income per share:
From continuing operations $ - $ 0.07 $ (0.01)
From discontinued operations - - 0.04
----------- ----------- -----------
(Loss) income before cumulative effect of
change in accounting principle - 0.07 0.03
Cumulative effect of change in accounting
principle (0.46) - -
----------- ----------- -----------
Total $ (0.46) $ 0.07 $ 0.03
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