**Exhibit11.1**

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# II.                                     Computationof Earnings Per Share

 

The following is areconciliation of the numerators and denominators of the basic and dilutedearnings per share computations for income from continuing operations:

 
| **U.S. dollars in thousands except share and per   share data** |   | **Income   (Numerator)** |   | **Shares   (Denominator)** |       | **Per Share   Amount** |   |
|-----------------------------------------------------------------|--------|--------------------------|--------|----------------------------|------------|------------------------|--------|
|                                                            |   |                     |   |                       |       |                   |   |
| Three Months Ended March 31, 2002                               |   |                     |   |                       |       |                   |   |
| *Basic loss per  share*                                         |   |                     |   |                       |       |                   |   |
| Loss available to common shareholders                           |   | $                        | (5,529 | )                          | 11,831,063 |                   | $      | (0.47 | ) |
|                                                            |   |                     |   |                       |       |                   |   |
| Effect of Dilutive Securities:                                  |   |                     |   |                       |       |                   |   |
| Class A Warrants                                                |   |                     |   | —                     |       |                   |   |
| Director and Employee Options                                   |   |                     |   | —                     |       |                   |   |
| Class B Warrants                                                |   |                     |   | —                     |       |                   |   |
|                                                            |   |                     |   |                       |       |                   |   |
| *Diluted loss per share*                                        |   |                     |   |                       |       |                   |   |
| Loss available to common shareholders                           |   | $                        | (5,529 | )                          | 11,831,063 |                   | $      | (0.47 | ) |
|                                                            |   |                     |   |                       |       |                   |   |
| Three Months Ended March 31, 2001                               |   |                     |   |                       |       |                   |   |
| *Basic loss per share*                                          |   |                     |   |                       |       |                   |   |
| Loss available to common shareholders                           |   | $                        | (3,943 | )                          | 11,782,500 |                   | $      | (0.33 | ) |
|                                                            |   |                     |   |                       |       |                   |   |
| Effect of Dilutive Securities:                                  |   |                     |   |                       |       |                   |   |
| Class A Warrants                                                |   |                     |   | —                     |       |                   |   |
| Director and Employee Options                                   |   |                     |   | —                     |       |                   |   |
| Class B Warrants                                                |   |                     |   | —                     |       |                   |   |
|                                                            |   |                     |   |                       |       |                   |   |
| *Diluted loss per share*                                        |   |                     |   |                       |       |                   |   |
| Loss available to common shareholders                           |   | $                        | (3,943 | )                          | 11,782,500 |                   | $      | (0.33 | ) |

 

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