1 EXHIBIT 11.1 STATEMENT RE: COMPUTATION OF EARNINGS PER SHARE Years Ended Quarters Ended ---------------------------------------- ------------------------- July 29, July 28, July 26, October 27, October 25, 1994 1995 1996 1995 1996 ---------- ---------- ---------- ----------- ----------- Net income (loss)...................................... $ (773,000) $ 723,000 $2,849,000 $ 559,000 $2,015,000 ========== ========== ========== ========== ========== Shares outstanding..................................... 9,000,000 9,000,000 9,000,000 9,000,000 9,000,000 Net incremental shares from assumed exercise of options using the treasury stock method...................... 171,950 171,950 171,950 171,950 171,950 ---------- ---------- ---------- ---------- ---------- Total shares used in computation of EPS................ 9,171,950 9,171,950 9,171,950 9,171,950 9,171,950 ========== ========== ========== ========== ========== Earnings per share..................................... $ (0.08) $ 0.08 $ 0.31 $ 0.06 $ 0.22 ========== ========== ========== ========== ==========