EXHIBIT 11
STATEMENT OF COMPUTATION OF PER SHARE EARNINGS
The following computations set forth the calculation of basic and diluted net income per common share and common share equivalents for the years ended December 31, 2003, 2002 and 2001:
| Years Ended December 31, | |||||||||
| 2003 |
2002 |
2001 | |||||||
| Net income |
$ | 78,468,948 | $ | 71,708,006 | $ | 69,505,569 | |||
| Weighted average number of common share outstanding |
79,808,669 | 78,804,265 | 78,316,112 | ||||||
| Net income per common share - Basic |
$ | 0.98 | $ | 0.91 | $ | 0.89 | |||
| Years Ended December 31, | |||||||||
| 2003 |
2002 |
2001 | |||||||
| Net income |
$ | 78,468,948 | $ | 71,708,006 | $ | 69,505,569 | |||
| Weighted average number of common share outstanding |
79,808,669 | 78,804,265 | 78,316,112 | ||||||
| Common share equivalents resulting from: |
|||||||||
| Dilutive stock options |
581,332 | 742,523 | 647,170 | ||||||
| Adjusted weighted average number of common and common equivalent shares outstanding |
80,390,001 | 79,546,788 | 78,963,282 | ||||||
| Net income per common share - Diluted |
$ | 0.98 | $ | 0.90 | $ | 0.88 | |||