EXHIBIT 11.1
DIVERSIFIED CORPORATE RESOURCES, INC. AND SUBSIDIARIES
STATEMENT REGARDING EARNINGS PER SHARE
THREE MONTHS NINE MONTHS
ENDED SEPTEMBER 30, ENDED SEPTEMBER 30,
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1997 1996 1997 1996
PRIMARY ---------- ---------- ---------- ----------
SHARES OUTSTANDING:
Weighted average number of
Shares outstanding 1,789,062 1,758,211 1,726,812 1,758,211
Net effect of dilutive stock
Options (1) 152,281 119,512 153,417 117,532
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1,941,343 1,877,723 1,880,229 1,875,743
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Income before extraordinary item $ 496,567 $ 336,581 $1,330,363 $1,125,907
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Earnings per common share
Before extraordinary item $ 0.26 $ 0.18 $ 0.71 $ 0.60
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Income from extraordinary item $ - $ - $ 43,083 $ -
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Earnings per common share
from extraordinary item $ - $ - $ 0.02 $ -
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Net income $ 496,567 $ 336,581 $1,373,446 $1,125,907
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Net income per common share $ 0.26 $ 0.18 $ 0.73 $ 0.60
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FULLY DILUTED
SHARES OUTSTANDING:
Weighted average number of
Shares outstanding 1,789,062 1,758,211 1,726,812 1,758,211
Net effect of dilutive stock
Options (1) 187,075 119,512 252,250 117,532
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1,976,137 1,877,723 1,979,062 1,875,743
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Income before extraordinary item $ 496,567 $ 336,581 $1,330,363 $1,125,907
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Earnings per common share
Before extraordinary item $ 0.25 $ 0.18 $ 0.67 $ 0.60
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Income from extraordinary item $ - $ - $ 43,083 $ -
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Earnings per common share
from extraordinary item $ - $ - $ 0.02 $ -
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Net income $ 496,567 $ 336,581 $1,373,446 $1,125,907
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Net income per common share $ 0.25 $ 0.18 $ 0.69 $ 0.60
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(1) The effects of dilutive stock options are based upon the treasury stock
method using average market price during the period for primary amounts,
and the higher of average market price or the market price at the end of
the period for fully diluted amounts.