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FORM 10-Q FOR THE QUARTER ENDED JUNE 30, 2002

EXHIBIT 11.01

COMPUTATION OF BASIC AND DILUTED EARNINGS PER COMMON SHARE
(IN THOUSANDS, EXCEPT PER SHARE DATA)
(UNAUDITED)

|                                   |                                                    |  |                    |        |                  |  |      |        |      |  |   |        |   |  |   |         |  
|---------------------------------- | -------------------------------------------------- |  | ------------------ | ------ | ---------------- |  | ---- | ------ | ---- |  | - | ------ | - |  | - | ------- | -
|                                   |                                                    |  | Three Months Ended |        | Six Months Ended
|                                   |                                                    |  | June 30,           |        | June 30,        
|                                   |                                                    |  |                    |        |                 
|                                   |                                                    |  | 2002               |        | 2001             |  | 2002 |        | 2001
|                                   |                                                    |  |                    |        |                  |  |      |        |     
|Earnings:                          |                                                    |  |                    |        |                  |  |      |        |      |  |   |        |   |  |   |        
|                                   | Net (loss) income available to common stock        |  | $                  | (581   | )                |  | $    | 376    |      |  | $ | (82    | ) |  | $ | (10,450 | )
|                                   |                                                    |  |                    |        |                  |  |      |        |      |  |   |        |   |  |   |        
|Shares:                            |                                                    |  |                    |        |                  |  |      |        |      |  |   |        |   |  |   |        
|                                   | Weighted average common shares outstanding         |  |                    | 27,857 |                  |  |      | 27,852 |      |  |   | 27,857 |   |  |   | 27,834  |  
|                                   | Dilutive effect of stock options                   |  |                    |       |                  |  |      | 13     |      |  |   |       |   |  |   |        |  
|                                   |                                                    |  |                    |        |                  |  |      |        |      |  |   |        |   |  |   |        
|                                   | Average diluted shares outstanding and equivalents |  |                    | 27,857 |                  |  |      | 27,865 |      |  |   | 27,857 |   |  |   | 27,834  |  
|Basic earnings per common share:   |                                                    |  |                    |        |                  |  |      |        |      |  |   |        |   |  |   |        
|                                   | Net (loss) income                                  |  | $                  | (0.02  | )                |  | $    | 0.01   |      |  | $ | 0.00   |   |  | $ | (0.38   | )
|                                   |                                                    |  |                    |        |                  |  |      |        |      |  |   |        |   |  |   |        
|Diluted earnings per common share: |                                                    |  |                    |        |                  |  |      |        |      |  |   |        |   |  |   |        
|                                   | Net (loss) income                                  |  | $                  | (0.02  | )                |  | $    | 0.01   |      |  | $ | 0.00   |   |  | $ | (0.38   | )
|                                   |                                                    |  |                    |        |                  |  |      |        |      |  |   |        |   |  |   |