1 EXHIBIT 11.1 STATEMENT REGARDING CALCULATION OF NET INCOME (LOSS) PER SHARE(1) (IN THOUSANDS, EXCEPT PER SHARE DATA) NINE MONTHS YEAR ENDED JUNE 30, ENDED MARCH 31, ------------------------------ ------------------- 1993 1994 1995 1995 1996 ------- ------ ------- ------- ------- Net income (loss)......................... $(1,390) $2,263 $ 448 $ 207 $ 1,764 ======= ====== ======= ======= ======= Weighted average shares outstanding: Common stock............................ 7,866 9,187 9,520 9,520 9,903 Common stock issuable upon exercise of options granted through March 31, 1995....................... -- -- 443 399 499 Common stock issuable upon exercise of options granted subsequent to March 31, 1995(2).......................... 713 713 713 713 713 ------- ------ ------- ------- ------- Weighted average common shares and equivalents............................. 8,579 9,900 10,676 10,632 11,115 ======= ====== ======= ======= ======= Net income (loss) per share............... $ (0.16) $ 0.23 $ 0.04 $ 0.02 $ 0.16 ======= ====== ======= ======= ======= - --------------- (1) This Exhibit should be read in conjunction with Note 1 of Notes to Consolidated Financial Statements. (2) Stock options granted (using the treasury stock method and an assumed initial public offering price of $13 per share) have been included in the calculation of the common equivalent shares as if they were outstanding for all periods presented.