EXHIBIT 11.01 --- COMPUTATION OF PER SHARE COMMON INCOME (LOSS)
(IN THOUSANDS, EXCEPT PER SHARE DATA)
1997 1996 1995
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Primary:
Average shares outstanding 53,890 21,251 15,049
Net effect of dilutive stock options -
based on the treasury stock method
using average market price 1,333 - -
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Totals 55,223 21,251 15,049
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Net income (loss) applicable to
common shareholders $ 996 $ (975) $(131,742)
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Per share amount $ 0.02 $ (0.05) $ (8.75)
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Fully diluted:
Average shares outstanding 53,890 21,251 15,049
Net effect of dilutive stock options -
based on the treasury stock method
using quarter end market price
which is greater than average
market price 1,819 - -
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Totals 55,709 21,251 15,049
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Net income (loss) applicable to
common shareholders $ 996 $ (975) $(131,742)
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Per share amount $ 0.02 $ (0.05) $ (8.75)
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* The primary net loss per share is shown in the statements of operations.
Net loss per share under the primary and fully diluted calculations are
equivalent.