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Exhibit 11.1 - Computation of Per Share Earnings
For the Three Months For the Nine Months
Ended March, 31, Ended March 31,
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1998 1997 1998 1997
---- ---- ---- ----
Basic earnings per common share
Net income for calculating basic
earnings per common share............ $1,526,000 $2,036,000 $5,056,000 $5,027,000
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Average common shares outstanding 4,486,000 4,192,000 4,229,000 3,144,000
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Basic earnings per common share $0.34 $0.49 $1.20 $1.60
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Diluted earnings per common share
Net income for calculating basic
earnings per common share... $1,526,000 $2,036,000 $5 056,000 $5,027,000
========== ========== ========== ==========
Average common shares outstanding 4,486,000 4,192,000 4,229,000 3,144,000
Add exercise of options and warrants 149,000 ---- 149,000 ----
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Diluted common shares outstanding 4,635,000 4,192,000 4,378,000 3,144,000
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Diluted earnings per common share $0.33 $0.49 $1.16 $1.60
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