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EXHIBIT 11
Statement Re Computation of Per Share Earnings
Quarter ended Nine months ended
September 30, September 30,
--------------------- ---------------------
1994 1993 1994 1993
---------- ---------- ---------- ----------
Primary
- - - -------
Net earnings $ 6,632,000 2,942,000 15,037,000 5,411,000
========== ========== ========== ==========
Common and common
equivalent shares
outstanding:
Weighted average
common shares
outstanding
during the period 19,714,903 19,714,828 19,714,858 19,714,738
Assumed exercise of
stock options 42,728 12,260 52,549 9,945
---------- ---------- ---------- ----------
19,757,631 19,727,088 19,767,407 19,724,683
========== ========== ========== ==========
Earnings per share of
common stock $ .34 .15 .76 .27
Fully diluted
- - - -------------
Net earnings $ 6,632,000 2,942,000 15,037,000 5,411,000
========== ========== ========== ==========
Common and common
equivalent shares
outstanding:
Weighted average
common shares
outstanding
during the period 19,714,903 19,714,828 19,714,858 19,714,738
Assumed exercise of
stock options 42,728 14,351 52,549 14,351
---------- ---------- ---------- ----------
19,757,631 19,729,179 19,767,407 19,729,089
========== ========== ========== ==========
Earnings per share of
common stock $ .34 .15 .76 .27
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