EXHIBIT 11 STATEMENT RE: COMPUTATION OF PER SHARE EARNINGS ----------------------------------------------- (in thousands, except per share amounts) Three Months Ended Nine Months Ended September 30 September 30 -------------------- ------------------ 1998 1997 1998 1997 -------------------- ------------------ Net income $15,915 $14,199 $41,800 $34,180 ==================== ================== Average common shares outstanding 47,658 47,876 47,786 47,698 Common stock equivalents (1) 188 249 269 197 -------------------- ------------------ Diluted shares outstanding 47,846 48,125 48,055 47,895 ==================== ================== Earnings per share $ .33 $ .30 $ .87 $ .72 ==================== ================== Diluted earnings per share $ .33 $ .30 $ .87 $ .71 ==================== ================== (1) Common stock equivalents represent the dilutive effect of outstanding stock options for all periods presented.