<ARTICLE> 5 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> JUL-31-1997 <PERIOD-END> OCT-31-1996 <CASH> 1,312,088 <SECURITIES> 0 <RECEIVABLES> 10,050,859 <ALLOWANCES> (924,345) <INVENTORY> 2,252,898 <CURRENT-ASSETS> 0 <PP&E> 18,940,018 <DEPRECIATION> (9,546,730) <TOTAL-ASSETS> 27,510,680 <CURRENT-LIABILITIES> 0 <BONDS> 14,793,450 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 257,602 <OTHER-SE> (2,313,469) <TOTAL-LIABILITY-AND-EQUITY> 27,510,680 <SALES> 0 <TOTAL-REVENUES> 8,405,150 <CGS> 0 <TOTAL-COSTS> 5,055,491 <OTHER-EXPENSES> 2,777,697 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 362,971 <INCOME-PRETAX> 208,991 <INCOME-TAX> 37,200 <INCOME-CONTINUING> 171,791 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 168,247 <EPS-PRIMARY> 0.07 <EPS-DILUTED> 0.07