Exhibit 11
STATEMENT RE: COMPUTATION OF PER SHARE EARNINGS
Exhibit 11
Statement Re: Computation of Per Share Earnings
Three Months Ended Twelve Months Ended
October 31, October 31,
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1999 1998 1999 1998
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(in thousands, except per
share amount)
Basic Diluted Basic Diluted Basic Diluted Basic Diluted
--------------------- --------------------- --------------------- --------------------
Net income $674 $674 $968 $968 $1,802 $1,802 $9,254 $9,254
Weighted average shares
outstanding 5,951 5,951 6,410 6,410 5,980 5,980 6,498 6,498
Assumed issuances under
stock options plans - 50 - 142 - 81 - 172
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5,951 6,001 6,410 6,552 5,980 6,061 6,498 6,670
Earnings per common share $0.11 $0.11 $0.15 $0.15 $0.30 $0.30 $1.42 $1.39
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