EXHIBIT 11.1
CARRIAGE SERVICES, INC.
COMPUTATION OF PER SHARE EARNINGS
(unaudited and in thousands, except per share data)
Earnings per share for the three and nine month periods ended September 30, 2002 and 2003 is calculated based on the weighted average number of common and common equivalent shares outstanding during the period as prescribed by SFAS 128. The following table sets forth the computation of the basic and diluted earnings per share for the three and nine month periods ended September 30, 2002 and 2003:
|
|
|
Three
months |
|
Nine
months |
|
||||||||
|
|
|
2002 |
|
2003 |
|
2002 |
|
2003 |
|
||||
|
Net income available to common stockholders for basic EPS computation |
|
$ |
520 |
|
$ |
846 |
|
$ |
18,557 |
|
$ |
5,198 |
|
|
Effect of dilutive securities |
|
— |
|
— |
|
— |
|
— |
|
||||
|
Net income available to common stockholders for diluted EPS computation |
|
$ |
520 |
|
$ |
846 |
|
$ |
18,557 |
|
$ |
5,198 |
|
|
|
|
|
|
|
|
|
|
|
|
||||
|
Weighted average number of common shares outstanding for basic EPS computation |
|
16,978 |
|
17,496 |
|
16,940 |
|
17,409 |
|
||||
|
Effect of dilutive securities: |
|
|
|
|
|
|
|
|
|
||||
|
Stock options |
|
389 |
|
336 |
|
499 |
|
343 |
|
||||
|
Weighted average number of common and common equivalent shares outstanding for diluted EPS computation |
|
17,367 |
|
17,832 |
|
17,439 |
|
17,752 |
|
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|
|
|
|
|
|
|
|
|
|
|
||||
|
Basic earnings per common share |
|
$ |
.03 |
|
$ |
0.05 |
|
$ |
1.10 |
|
$ |
0.30 |
|
|
|
|
|
|
|
|
|
|
|
|
||||
|
Diluted earnings per common share |
|
$ |
.03 |
|
$ |
0.05 |
|
$ |
1.06 |
|
$ |
0.29 |
|