##### 



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

EXHIBIT 11.01

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

|                                   |                                                    |  |                    |        |                   |  |      |        |      |  |   |        |   |  |   |        |  
|---------------------------------- | -------------------------------------------------- |  | ------------------ | ------ | ----------------- |  | ---- | ------ | ---- |  | - | ------ | - |  | - | ------ | -
|                                   |                                                    |  | Three Months Ended |        | Nine Months Ended
|                                   |                                                    |  | September 30,      |        | September 30,    
|                                   |                                                    |  |                    |        |                  
|                                   |                                                    |  | 2002               |        | 2001              |  | 2002 |        | 2001
|                                   |                                                    |  |                    |        |                   |  |      |        |     
|Earnings:                          |                                                    |  |                    |        |                   |  |      |        |      |  |   |        |   |  |   |       
|                                  
|                                  
|                                  
|                                  
|                                   | Net (loss) income available to common stock        |  | $                  | (4,489 | )                 |  | $    | 955    |      |  | $ | (4,571 | ) |  | $ | (9,495 | )
|                                   |                                                    |  |                    |        |                   |  |      |        |      |  |   |        |   |  |   |        |  
|Shares:                            |                                                    |  |                    |        |                   |  |      |        |      |  |   |        |   |  |   |       
|                                  
|                                  
|                                  
|                                  
|                                   | Weighted average common shares outstanding         |  |                    | 27,862 |                   |  |      | 27,856 |      |  |   | 27,859 |   |  |   | 27,841 |  
|                                  
|                                  
|                                  
|                                  
|                                   | Dilutive effect of stock options                   |  |                    | 0      |                   |  |      | 0      |      |  |   | 0      |   |  |   | 0      |  
|                                   |                                                    |  |                    |        |                   |  |      |        |      |  |   |        |   |  |   |        |  
|                                   | Average diluted shares outstanding and equivalents |  |                    | 27,862 |                   |  |      | 27,856 |      |  |   | 27,859 |   |  |   | 27,841 |  
|                                  
|                                  
|                                  
|                                  
|Basic earnings per common share:   |                                                    |  |                    |        |                   |  |      |        |      |  |   |        |   |  |   |       
|                                  
|                                  
|                                  
|                                  
|                                   | Net (loss) income                                  |  | $                  | (0.16  | )                 |  | $    | 0.03   |      |  | $ | (0.16  | ) |  | $ | (0.34  | )
|                                   |                                                    |  |                    |        |                   |  |      |        |      |  |   |        |   |  |   |        |  
|Diluted earnings per common share: |                                                    |  |                    |        |                   |  |      |        |      |  |   |        |   |  |   |       
|                                  
|                                  
|                                  
|                                  
|                                   | Net (loss) income                                  |  | $                  | (0.16  | )                 |  | $    | 0.03   |      |  | $ | (0.16  | ) |  | $ | (0.34  | )
|                                   |                                                    |  |                    |        |                   |  |      |        |      |  |   |        |   |  |   |        |  

54