Exhibit 11 STATEMENT RE: COMPUTATION OF PER SHARE EARNINGS Exhibit 11 Statement Re: Computation of Per Share Earnings Three Months Ended Six Months Ended April 30, April 30, ---------------------------- ------------------------ 1999 1998 1999 1998 -------------- ------------- ------------- ------------- (in thousands, except per share amount) Basic Diluted Basic Diluted Basic Diluted Basic Diluted -------------- ------------- ------------- ------------- Net income $554 $554 $4,270 $4,270 $729 $729 $6,456 $6,456 Weighted average shares outstanding 5,945 5,945 6,560 6,560 6,011 6,011 6,557 6,557 Assumed issuances under stock options plans - 86 - 204 - 89 - 194 -------------- ------------ ------------- ------------- 5,945 6,031 6,560 6,764 6,011 6,100 6,557 6,751 Earnings per common share $0.09 $0.09 $0.65 $0.63 $0.12 $0.12 $0.98 $0.96 ============== ============ ============= =============