Exhibit 11 -- Statement Re: Computation of Per-Share Earnings
Three months ended Six months ended
February 29, February 29,
1996 1995 1996 1995
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Primary
Average shares outstanding 1,563,420 1,553,433 1,562,922 1,553,177
Net effect of dilutive stock
options - based on the treasury
stock method using average
market price 169,070 94,984 166,404 92,331
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Total 1,732,490 1,648,417 1,729,326 1,645,508
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Net income $156,229 $118,475 $246,831 $243,908
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Per-share amount $0.09 $0.07 $0.14 $0.15
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Fully Diluted
Average shares outstanding 1,563,420 1,553,433 1,562,922 1,553,177
Net effect of dilutive stock
options - based on the treasury
stock method using the quarter
end market price, if higher
than average market price 169,070 97,866 171,968 96,196
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Total 1,732,490 1,651,299 1,734,890 1,649,373
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Net income $156,229 $118,475 $246,831 $243,908
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Per-share amount $0.09 $0.07 $0.14 $0.15
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