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EXHIBIT 11.
STATEMENT RE COMPUTATION OF PER SHARE EARNINGS
Computations of net income per share for the years ended December 31, 1994,
1993, and 1992 are as follows:
1994 1993 1992
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PRIMARY
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Net income (loss) $(183,581) $21,510 $34,503
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Average common shares outstanding 22,266 20,505 19,874
Dilutive common equivalent shares
issuable upon the exercise of
options currently outstanding
to purchase common shares -- 421 732
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22,266 20,926 20,606
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Net income (loss) per share $ (8.24) $ 1.03 $ 1.67
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FULLY DILUTED
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Net income (loss) $(183,581) $21,510 $34,503
Add: Interest expense net of tax
related to convertible Debentures 1,241 -- --
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Adjusted net income $(182,340) $21,510 $34,503
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Average common shares outstanding 22,266 20,505 19,874
Dilutive common equivalent shares
issuable upon the exercise of
options currently outstanding
to purchase common shares 654 421 732
Conversion of Debentures 2,761 -- --
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25,681 20,926 20,606
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Net income (loss) per share $ (7.10) $ 1.03 $ 1.67
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