Exhibit 11 -- Statement Re: Computation of Per-Share Earnings
Three months ended Nine months ended
May 31, May 31,
1996 1995 1996 1995
--------- --------- --------- ---------
Primary
Average shares outstanding 1,567,129 1,561,545 1,564,324 1,555,966
Net effect of dilutive stock
options - based on the treasury
stock method using average
market price 151,445 97,905 161,418 94,189
--------- --------- --------- ---------
Total 1,718,574 1,659,450 1,725,742 1,650,155
========= ========= ========= =========
Net income $163,673 $167,704 $410,504 $411,612
======== ======== ======== ========
Per-share amount $0.10 $0.10 $0.24 $0.25
===== ===== ===== =====
Fully Diluted
Average shares outstanding 1,567,129 1,561,545 1,564,324 1,555,966
Net effect of dilutive stock
options - based on the treasury
stock method using the quarter
end market price, if higher
than average market price 154,790 106,058 166,242 99,420
--------- --------- --------- ---------
Total 1,721,919 1,667,603 1,730,566 1,655,386
========= ========= ========= =========
Net income $163,673 $167,704 $410,504 $411,612
======== ======== ======== ========
Per-share amount $0.10 $0.10 $0.24 $0.25
===== ===== ===== =====