1 EXHIBIT 11.1 COMPUTATION OF PRIMARY AND FULLY DILUTED EARNINGS PER SHARE DOLLARS IN THOUSANDS EXCEPT PER SHARE DATA Nine months ended December 31, ------------------ 1996 1995 --------- --------- Primary: Net earnings available for common and common equivalent shares $22,081 $44,928 ----------- ---------- Weighted average common and common equivalent shares outstanding 39,255,064 39,115,486 ----------- ---------- Primary earnings per common share $0.56 $1.15 =========== ========== Fully Diluted: Net earnings available for common and common equivalent shares $22,081 $44,928 ----------- ---------- Weighted average common and common equivalent shares outstanding assuming ending market price 39,289,556 39,115,486 ----------- ---------- Fully diluted earnings per common share $0.56 $1.15 =========== ==========