EXHIBIT 11.1
COMPUTATION OF BASIC AND DILUTED
NET INCOME (LOSS) PER SHARE FOR
THE THREE MONTHS ENDED MARCH 31, 2003 AND 2002
The following calculation is submitted in accordance with
requirements of the Securities Exchange Act of 1934:
For the three months
ended March 31,
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2003 2002
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Basic net income per share:
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Weighted average common shares outstanding 7,597 7,337
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Net income from continuing operations $1,591 $605
Basic net income from continuing operations
per share $0.21 $0.08
Income (loss) from discontinued operations ($71) $5
Basic loss from discontinued operations
per share ($0.01) -
Net income $1,520 $610
Basic net income per share $0.20 $0.08
Diluted net income per share:
- -------------------------------------------------
Weighted average common shares outstanding 7,597 7,337
Common stock equivalents - stock options and
warrants 52 343
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Total weighted average number of diluted shares 7,649 7,680
====================
Net income from continuing operations $1,591 $605
Diluted net income from continuing operations
per share $0.21 $0.08
Income (loss) from discontinued operations ($71) $5
Diluted loss from discontinued operations
per share ($0.01) -
Net income $1,520 $610
Diluted net income per share $0.20 $0.08