EXHIBIT 11 COMPUTATION OF NET EARNINGS PER COMMON AND COMMON EQUIVALENT SHARE For the nine months ended May 31, 1995 and 1994 May May 1995 1994 EARNINGS PER SHARE: Shares Average shares outstanding 5,157,731 5,140,385 Net average additional shares outstanding assuming dilutive stock options exercised and proceeds used to purchase treasury stock at average market price 82,784 77,196 Average number of common and common equivalent shares outstanding 5,240,515 5,217,581 Net Earnings Net earnings for primary earnings per share $11,886,000 $9,406,000 Earnings Per Share $2.27 $1.80 EXHIBIT 11 COMPUTATION OF NET EARNINGS PER COMMON AND COMMON EQUIVALENT SHARE For the three months ended May 31, 1995 and 1994 May May 1995 1994 EARNINGS PER SHARE: Shares Average shares outstanding 5,169,684 5,142,026 Net average additional shares outstanding assuming dilutive stock options exercised and proceeds used to purchase treasury stock at average market price 96,521 96,391 Average number of common and common equivalent shares outstanding 5,226,205 5,238,417 Net Earnings Net earnings for primary earnings per share $5,351,000 $2,237,000 Earnings Per Share $1.02 $0.43