|
7.
Earnings Per Share:
The following is a reconciliation of the net income applicable to common shareholders used in the net
income per common share calculation to the net income assuming dilution used in the net income per
common share – assuming dilution calculation:
|
|
Year Ended December 31,
|
|
|
|
|
|
2000
|
|
1999
|
|
1998
|
|
|
|
|
|
|
|
|
Net
income
|
$
15,055
|
|
$
16,901
|
|
$
19,526
|
|
Less:
preferred shares distribution
|
6,938
|
|
6,938
|
|
6,938
|
|
|
|
|
|
|
|
|
Net
income applicable to common shareholders
|
8,117
|
|
9,963
|
|
12,588
|
|
Plus:
income allocation to minority interest
|
625
|
|
1,026
|
|
1,349
|
|
|
|
|
|
|
|
|
Net
income assuming dilution
|
$
8,742
|
|
$
10,989
|
|
$
13,937
|
|
|
|
|
|
|
|
The following is a reconciliation of the weighted average shares used in net income per common share
to the weighted average shares used in net income per common share – assuming dilution:
|
|
Year
Ended December 31,
|
|
|
|
|
|
2000
|
|
1999
|
|
1998
|
|
|
|
|
|
|
|
|
Weighted
average number of common shares
|
16,890
|
|
16,467
|
|
16,286
|
|
Weighted
average units with redemption rights
|
1,298
|
|
1,629
|
|
1,747
|
|
Stock
options
|
--
|
|
12
|
|
7
|
|
|
|
|
|
|
|
|
Weighted
average number of common shares
|
|
|
|
|
|
|
assuming
dilution
|
18,188
|
|
18,108
|
|
18,040
|
|
|
|
|
|
|
|
|
