**Exhibit 11.1**

**Computationof Earnings Per Share**

The following is a reconciliation of the numeratorsand denominators of the basic and diluted earnings per share computations forincome from continuing operations:

 
| U.S. dollars in thousands except share and per share data | Income  (Numerator)           |   | Shares  (Denominator) |       | Per Share  Amount |   |
|-----------------------------------------------------------|-------------------------------|--------|-----------------------|------------|-------------------|--------|
|                                                           |                               |   |                       |       |                   |   |
|                                                      |                          |   |                  |       |              |   |
| Three Months Ended June 30, 2001                          |                          |   |                  |       |              |   |
|                                                           |                          |   |                  |       |              |   |
| *Basic loss per  share*                                   |                          |   |                  |       |              |   |
| Loss available to common shareholders                     | $                             | (5,915 | )                     | 11,787,725 |              | $      | (0.50 | ) |
|                                                      |                          |   |                  |       |              |   |
| Effect of Dilutive Securities:                            |                          |   |                  |       |              |   |
|                                                      | Class A Warrants              | — |                  |       |              |   |   |
|                                                      | Director and Employee Options | — |                  |       |              |   |   |
|                                                      | Class B Warrants              | — |                  |       |              |   |   |
|                                                      |                               |   |                       |       |                   |   |
| *Diluted loss per  share*                                 |                          |   |                  |       |              |   |
| Loss available to common shareholders                     | $                             | (5,915 | )                     | 11,787,725 |              | $      | (0.50 | ) |
|                                                      |                               |   |                       |       |                   |   |
|                                                      |                          |   |                  |       |              |   |
| Three Months Ended June 30, 2000                          |                          |   |                  |       |              |   |
|                                                           |                          |   |                  |       |              |   |
| *Basic earnings per  share*                               |                          |   |                  |       |              |   |
| Income available to common shareholders                   | $                             | (6,313 | )                     | 11,836,585 |              | $      | (0.53 | ) |
|                                                      |                          |   |                  |       |              |   |
| Effect of Dilutive Securities:                            |                          |   |                  |       |              |   |
|                                                      | Class A Warrants              | — |                  |       |              |   |   |
|                                                      | Director and Employee Options | — |                  |       |              |   |   |
|                                                      | Class B Warrants              | — |                  |       |              |   |   |
|                                                      |                               |   |                       |       |                   |   |
| *Diluted earnings  per share*                             |                          |   |                  |       |              |   |
| Income available to common shareholders                   | $                             | (6,313 | )                     | 11,836,585 |              | $      | (0.53 | ) |
|                                                      |                               |   |                       |       |                   |   |

 
| Six Months Ended June 30, 2001          |                          |    |   |       |   |   |
|-----------------------------------------|-------------------------------|---------|--------|------------|--------|--------|
|                                         |                          |    |   |       |   |   |
| *Basic loss per  share*                 |                          |    |   |       |   |   |
| Loss available to common shareholders   | $                             | (9,858  | )      | 11,785,000 |   | $      | (0.84 | ) |
|                                    |                          |    |   |       |   |   |
| Effect of Dilutive Securities:          |                          |    |   |       |   |   |
|                                    | Class A Warrants              | —  |   |       |   |   |   |
|                                    | Director and Employee Options | —  |   |       |   |   |   |
|                                    | Class B Warrants              | —  |   |       |   |   |   |
|                                    |                          |         |   |            |   |        |   |
| *Diluted loss per  share*               |                          |    |   |       |   |   |
| Loss available to common shareholders   | $                             | (9,858  | )      | 11,785,00  |   | $      | (0.84 | ) |
|                                    |                               |    |        |       |        |   |
| Six Months Ended June 30, 2000          |                          |    |   |       |   |   |
|                                         |                          |    |   |       |   |   |
| *Basic earnings per  share*             |                          |    |   |       |   |   |
| Income available to common shareholders | $                             | (13,619 | )      | 11,706,242 |   | $      | (1.16 | ) |
|                                    |                          |    |   |       |   |   |
| Effect of Dilutive Securities:          |                          |    |   |       |   |   |
|                                    | Class A Warrants              | —  |   |       |   |   |   |
|                                    | Director and Employee Options | —  |   |       |   |   |   |
|                                    | Class B Warrants              | —  |   |       |   |   |   |
|                                    |                               |    |        |       |        |   |
| *Diluted earnings  per share*           |                          |    |   |       |   |   |
| Income available to common shareholders | $                             | (13,619 | )      | 11,706,242 |   | $      | (1.16 | ) |
|                                    |                               |    |        |       |        |   |