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EXHIBIT 11
STATEMENT RE COMPUTATION OF PER SHARE EARNINGS
(In Thousands, Except Per Share Data)
Three-Months Ended Six-Months Ended
January 31, January 31,
1995 1994 1995 1994
-------- -------- -------- --------
(Unaudited)
EARNINGS
Income before cumulative effect of change
in accounting for income taxes . . . . . . . . . . . . $480 $168 $997 $635
Cumulative effect to August 1, 1993, of change
in accounting for income taxes . . . . . . . . . . . . --- --- --- 603
---- ---- ---- ------
Net income . . . . . . . . . . . . . . . . . . . . . . . $480 $168 $997 $1,238
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SHARES
Weighted average number of common shares outstanding
during the year . . . . . . . . . . . . . . . . . . . 6,015 6,115 6,010 6,309
Add: shares of common stock equivalents . . . . . . . . 86 24 70 21
----- ----- ----- -----
Weighted average number of common shares used in
primary earnings per share calculation . . . . . . . . 6,101 6,139 6,080 6,330
Add: incremental shares of common stock equivalents . . 36 3 29 10
----- ----- ----- -----
Weighted average number of common shares used in fully
diluted earnings per share calculation . . . . . . . . 6,137 6,142 6,109 6,340
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PRIMARY EARNINGS PER SHARE
Income before cumulative effect of change
in accounting for income taxes . . . . . . . . . . . . $0.08 $0.03 $0.16 $0.10
Cumulative effect to August 1, 1993, of change
in accounting for income taxes . . . . . . . . . . . . --- 0.00 --- 0.10
----- ----- ----- -----
Net income . . . . . . . . . . . . . . . . . . . . . . . $0.08 $0.03 $0.16 $0.20
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FULLY DILUTED EARINGS PER SHARE
Income before cumulative effect of change
in accounting for income taxes . . . . . . . . . . . . $0.08 $0.03 $0.16 $0.10
Cumulative effect to August 1, 1993, of change
in accounting for income taxes . . . . . . . . . . . . --- 0.00 --- 0.10
----- ----- ----- -----
Net income . . . . . . . . . . . . . . . . . . . . . . . $0.08 $0.03 $0.16 $0.20
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