EXHIBIT 11

COMPUTATION OF PER SHARE EARNINGS

(in thousands, except for per share data)

Three Months Ended March 29

 

 

 

 

 

2003

 

2002

 

 

 

 

 

Income from continuing operations

$

277

 

$

1,187

Discontinued operations

 

281

 

 

169

Net income

$

558

 

$

1,356

 

 

 

 

 

Basic earnings per share weighted average shares

 

7,832

 

 

8,109

Net effect of dilutive stock options

 

91

 

 

236

Diluted earnings per share weighted average shares

 

7,923

 

 

8,345

 

 

 

 

 

Basic earnings per share:

 

 

 

 

 

Continuing operations

$

0.03

 

$

0.15

Discontinued operations

 

0.04

 

 

0.02

Net income

$

0.07

 

$

0.17

 

 

 

 

 

Diluted earnings per share:

 

 

 

 

 

Continuing operations

$

0.03

 

$

0.14

Discontinued operations

 

0.04

 

 

0.02

Net income

$

0.07

 

$

0.16