Exhibit 11 -- Statement Re: Computation of Per-Share Earnings
Three months ended Nine months ended
May 31, May 31,
1997 1996 1997 1996
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Primary
Average shares outstanding 1,575,391 1,567,129 1,573,152 1,564,324
Net effect of dilutive stock
options - based on the
treasury stock method using
average market price 146,092 151,445 146,419 161,418
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Total 1,721,483 1,718,574 1,719,571 1,725,742
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Net income $217,424 $163,673 $650,577 $410,504
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Per-share amount $0.13 $0.10 $0.38 $0.24
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Fully Diluted
Average shares outstanding 1,575,391 1,567,129 1,573,152 1,564,324
Net effect of dilutive stock
options - based on the
treasury stock method using
the quarter end market price,
if higher than average
market price 157,907 154,790 150,357 166,242
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Total 1,733,298 1,721,919 1,723,509 1,730,566
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Net income $217,424 $163,673 $650,577 $410,504
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Per-share amount $0.13 $0.10 $0.38 $0.24
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