Exhibit ll
SCHEDULE OF COMPUTATION OF NET INCOME PER SHARE
Six Months Ended
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July 31, 2000 July 31, 1999
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Basic:
Net income from continuing operations $ 1,338,000 $ 1,182,000
Weighted average shares outstanding 4,400,000 4,425,000
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Basic income per share from continuing operations $ .31 $ .27
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Net income from discontinued operations $ 499,000 $ 789,000
Weighted average shares outstanding 4,400,000 4,425,000
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Basic income per share from discontinued operations $ .11 $ .18
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Net income $ 1,837,000 $ 1,971,000
Weighted average shares outstanding 4,400,000 4,425,000
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Basic income per share $ .42 $ .45
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Diluted:
Net income from continuing operations $ 1,338,000 $ 1,182,000
Less - net income allocated to subsidiary dilutive stock options
outstanding (126,000) (75,000)
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Net income used in calculation of diluted income per
share from continuing operations $ 1,212,000 $ 1,107,000
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Weighted average shares outstanding 4,400,000 4,425,000
Plus - common equivalent shares (determined using the "treasury stock" method)
representing shares issuable upon exercise of
stock options 219,000 196,000
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Weighted average number of shares used in calculation of
diluted income per share from continuing operations 4,619,000 4,621,000
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Diluted income per share from continuing operations $ .26 $ .24
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Exhibit ll (continued)
SCHEDULE OF COMPUTATION OF NET INCOME PER SHARE
Six Months Ended
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July 31, 2000 July 31, 1999
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Net income from discontinued operations $ 499,000 $ 789,000
Less - net income allocated to subsidiary dilutive stock options
outstanding -- --
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Net income used in calculation of diluted income
per share from discontinued operations $ 499,000 $ 789,000
=========== ===========
Weighted average shares outstanding 4,400,000 4,425,000
Plus - common equivalent shares (determined using the "treasury stock" method)
representing shares issuable upon exercise of
stock options 219,000 196,000
----------- -----------
Weighted average number of shares used in calculation of
diluted income per share from discontinued operations 4,619,000 4,621,000
=========== ===========
Diluted income per share from discontinued operations $ .11 $ .17
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Net income $ 1,837,000 $ 1,971,000
Less - net income allocated to subsidiary dilutive stock options
outstanding (126,000) (75,000)
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Net income used in calculation of diluted income per share $ 1,711,000 $ 1,896,000
=========== ===========
Weighted average shares outstanding 4,400,000 4,425,000
Plus - common equivalent shares (determined using the "treasury stock" method)
representing shares issuable upon exercise of
stock options 219,000 196,000
----------- -----------
Weighted average number of shares used in calculation of
diluted income per share 4,619,000 4,621,000
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Diluted income per share $ .37 $ .41
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