1 EXHIBIT 11 STATEMENT RE COMPUTATION OF PER SHARE EARNINGS (In Thousands, Except Per Share Data) Years Ended July 31, ------------------------------------- 1995 1994 1993 ---- ---- ---- NET INCOME PER COMMON SHARE - - ----------------------------------------------------------- Net income . . . . . . . . . . . . . . . . . . . . . . . . $3,677 $2,554 $1,454 ====== ====== ====== Weighted average number of common shares outstanding during the year . . . . . . . . . . . . 5,940 6,152 6,500 ===== ===== ===== Net income per common share . . . . . . . . . . . . . . . . $.62 $.42 $.22 ==== ==== ==== PRIMARY - - ----------------------------------------------------------- Net income . . . . . . . . . . . . . . . . . . . . . . . . $3,677 $2,554 $1,454 ====== ====== ====== Weighted average number of common shares outstanding during the year . . . . . . . . . . . . 5,940 6,152 6,500 Add: shares of common stock equivalents . . . . . . . . . . . . . . . . . . . . . . . . 102 38 14 ----- ----- ----- Weighted average number of shares used in calculation of primary income per share . . . . . . . . . . . . . . . . . . . . . 6,042 6,190 6,514 ===== ===== ===== Primary income per common share . . . . . . . . . . . . . . . . . . . . . . . $.61 $.41 $.22 ==== ==== ==== FULLY DILUTED - - ----------------------------------------------------------- Net income . . . . . . . . . . . . . . . . . . . . . . . . $3,677 $2,554 $1,454 ====== ====== ====== Weighted average number of common shares outstanding as adjusted above.. . . . . . . . . . . 6,042 6,190 6,514 Add: incremental shares of common stock equivalents . . . . . . . . . . . . . . . . . . . . . 20 9 2 ----- ----- ----- Weighted average number of shares used in calculation of fully diluted income per share . . . . . . . . . . . . . . . . . 6,062 6,199 6,516 ===== ===== ===== Fully diluted income per common share . . . . . . . . . . . . . . . . . . . . . . . $.61 $.41 $.22 ==== ==== ====