**Exhibit11**

 

 

**Calculation of Basic Earnings PerShare**

 

 
|                                                  |   | **Year Ended  December 31** |       | **Six Months  Ended December 31** |   | **Year Ended  June 30** |   |
|-------------------------------------------------------|--------|-----------------------------|------------|-----------------------------------|--------|-------------------------|--------|
|                                                  |   | **2001**                    |       | **2000**                          |   | **2000**                |   | **2000** |   | **1999** |   |
|                                                  |   |                        |       | **(unaudited)**                   |   |                    |   |   |   |   |   |
| Net (loss)  earnings                                  |   | $                           | (2,980,000 | )                                 | $      | (2,624,000              | )      | $ | (6,302,000 | ) | $ | 9,788,000 |   | $ | 22,733,000 |   |
|                                                  |   |                        |       |                              |   |                    |   |   |   |   |   |
| Weighted average  number of common shares outstanding |   | 24,196,000                  |       | 22,612,000                        |   | 22,624,000              |   | 22,583,000 |   | 22,524,000 |   |
|                                                  |   |                        |       |                              |   |                    |   |   |   |   |   |
| Basic (loss)  earnings per share                      |   | $                           | (.12       | )                                 | $      | (.12                    | )      | $ | (.28 | ) | $ | .43 |   | $ | 1.01 |   |

 

 

 

**Calculationof Diluted Earnings Per Share**

 

                                
|                                                                                     |   | **Year Ended  December 31** |       | **Six Months  Ended December 31** |   | **Year Ended  June 30** |   |
|------------------------------------------------------------------------------------------|--------|-----------------------------|------------|-----------------------------------|--------|-------------------------|--------|
|                                                                                     |   | **2001**                    |       | **2000**                          |   | **2000**                |   | **2000** |   | **1999** |   |
|                                                                                     |   |                        |       | **(unaudited)**                   |   |                    |   |   |   |   |   |
| Net (loss)  earnings                                                                     |   | $                           | (2,980,000 | )                                 | $      | (2,624,000              | )      | $ | (6,302,000 | ) | $ | 9,788,000 |   | $ | 22,733,000 |   |
|                                                                                     |   |                        |       |                              |   |                    |   |   |   |   |   |
| Weighted average  number of common shares outstanding                                    |   | 24,196,000                  |       | 22,612,000                        |   | 22,624,000              |   | 22,583,000 |   | 22,524,000 |   |
|                                                                                     |   |                        |       |                              |   |                    |   |   |   |   |   |
| Dilutive effect  of stock options outstanding after application of treasury stock method |   | 0                           |       | 0                                 |   | 0                       |   | 41,000 |   | 208,000 |   |
|                                                                                     |   |                        |       |                              |   |                    |   |   |   |   |   |
| Adjusted  weighted average shares                                                        |   | 24,196,000                  |       | 22,612,000                        |   | 22,624,000              |   | 22,624,000 |   | 22,732,000 |   |
|                                                                                     |   |                        |       |                              |   |                    |   |   |   |   |   |
| Diluted (loss)  earnings per share                                                       |   | $                           | (.12       | )                                 | $      | (.12                    | )      | $ | (.28 | ) | $ | .43 |   | $ | 1.00 |   |

 

 

 

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