Exhibit 11 EXHIBIT 11 (Unaudited) COMPUTATION OF NET EARNINGS PER SHARE BASIC DILUTED Six Months Ended Six Months Ended December 31, December 31, ---------------------- -------------------- 1999 1998 1999 1998 ---- ---- ---- ---- Net income $1,315,902 $ 185,023 $1,315,902 $ 185,023 ========== ========== ========== ========== Weighted average common shares outstanding 5,954,671 5,807,351 5,954,671 5,807,351 ========== ========== Weighted average common share equivalents: Options and warrants - - 506,862 796,957 ========== ========== Weighted average common shares and common share equivalents 5,954,671 5,807,351 6,461,533 6,604,308 ========== ========== ========== ========== Net income loss per share $ .22 $ .03 $ .20 $ .03 ========== ========== ========== ========== BASIC DILUTED Three Months Ended Three Months Ended December 31, December 31, ---------------------- -------------------- 1999 1998 1999 1998 ---- ---- ---- ---- Net income $ 710,574 $ 464,670 $ 710,574 $ 464,670 ========== ========== ========== ========== Weighted average common shares outstanding 5,951,872 5,837,095 5,951,872 5,837,095 ========== ========== Weighted average common share equivalents: Options and warrants - - 499,608 744,748 ========== ========== Weighted average common shares and common share equivalents 5,951,872 5,837,095 6,451,480 6,581,843 ========== ========== ========== ========== Net income (loss) per share $ .12 $ .08 $ .11 $ .07 ========== ========== ========== ========== 16