Itt Educational Services Inc – ‘10-Q’ for 6/30/98 – EX-11

As of:  Monday, 7/27/98   ·   For:  6/30/98   ·   Accession #:  950131-98-4428   ·   File #:  1-13144

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Quarterly Report   —   Form 10-Q
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-Q        Quarterly Report                                      16     77K 
 3: EX-10.10    Income Tax Sharing Agreement                           8     30K 
 4: EX-10.11    Trade Name and Service Mark License Agreement         13     44K 
 5: EX-10.15    Esi Excess Savings Plan                               15     57K 
 2: EX-10.9     Employee Benefits Agreement                            9     38K 
 6: EX-11       Computation of Per Share Earnings                      1      6K 
 7: EX-27       Financial Data Schedule                                2      7K 

EX-11   —   Computation of Per Share Earnings

EX-11
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                                                                      Exhibit 11

ITT EDUCATIONAL SERVICES, INC.  
COMPUTATION OF BASIC AND DILUTED EARNINGS PER SHARE 
(In thousands, except per share data) 

                                                        [Enlarge/Download Table]

                                   Three Months Ended June 30,  Six Months Ended June 30,
                                   ---------------------------  -------------------------
                                       1998          1997            1998         1997   
                                       ----          ----            ----         ----   
                                                                                         
Net income (loss)                    $  (660)       $   805        $ 6,668      $ 7,007  
                                     =======        =======        =======      =======  

Shares:                                                                                  
 Weighted average number                                                                 
  of shares of common                                                                    
  stock outstanding                   27,000         27,000         27,000       27,000  

Shares assumed issued                                                                    
 (less shares assumed                                                                    
 purchased for treasury)                                                                 
 on stock options                        183            103            163          107  
                                     -------        -------        -------      -------  

Outstanding shares for diluted                                                           
 earnings per share calculation       27,183         27,103         27,163       27,107  
                                     =======        =======        =======      =======  

Earnings (loss) per common share:    $  (.02)       $  0.03        $  0.25      $  0.26