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To: Don Lloyd who wrote (161)	1/29/2003 9:03:13 AM
From: Wildstar	Respond to of 445

Don, I don't see any double counting in the denominator. If you see anything other than a simple double counting of expenses, please let me know. I was referring to the double counting, once each in the numerator and denominator, that happens when the effect of the increased number of shares is reflected as both decreased earnings (numerator) due to increased expenses, and also as a greater number of shares (denominator). It seems that this is not only unnecessary, but also leads to a false statement of earnings/share. In your example, this false statement would be a profit of negative $2 million rather than the more accurate $46 million.