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EXHIBIT 11
STATEMENT RE COMPUTATION OF PER SHARE EARNINGS
(In Thousands, Except Per Share Data)
Three-Months
Ended
October 31,
1997 1996
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EARNINGS
Net income ............................................. $1,182 $ 880
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SHARES
Weighted average number of common shares outstanding ... 5,643 5,770
Add: shares of common stock equivalents ................ 310 277
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Weighted average number of common shares used in
primary earnings per share calculation ............... 5,953 6,047
Add: incremental shares of common stock equivalents .... -- --
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Weighted average number of common shares used in
fully diluted earnings per share calculation ......... 5,953 6,047
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PRIMARY EARNINGS PER SHARE
Net income ............................................. $ 0.20 $ 0.15
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FULLY DILUTED EARNINGS PER SHARE
Net income ............................................. $ 0.20 $ 0.15
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