Exhibit 11.1
Cornell Companies, Inc.
Statement Re: Computation of Per Share Earnings
(in thousands except per share amounts)
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2003 |
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2002 |
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2001 |
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Basic |
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Diluted |
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Basic |
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Diluted |
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Basic |
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Diluted |
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Net Earnings |
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$ |
3,970 |
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$ |
3,970 |
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$ |
6,362 |
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$ |
6,362 |
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$ |
4,659 |
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$ |
4,659 |
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Shares used in computing net earnings per share: |
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Weighted average common shares and common share equivalents |
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14,426 |
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14,426 |
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14,132 |
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14,132 |
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10,624 |
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10,624 |
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Less effect of treasury shares |
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(1,485 |
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(1,485 |
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(1,221 |
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(1,221 |
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(1,008 |
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(1,008 |
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Effect of shares issuable under stock options and warrants based on the treasury stock method |
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— |
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322 |
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— |
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321 |
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— |
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453 |
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12,941 |
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13,263 |
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12,911 |
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13,232 |
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9,616 |
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10,069 |
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Net earnings per share |
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$ |
0.31 |
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$ |
0.30 |
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$ |
0.49 |
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$ |
0.48 |
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$ |
0.48 |
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$ |
0.46 |
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