EXHIBIT 11 - COMPUTATION OF NET EARNINGS PER COMMON SHARE (UNAUDITED)
Three Months Ended Nine Months Ended
May 31, May 31,
1995 1994 1995 1994
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(Amounts in thousands, except per share data)
Primary
Average shares outstanding 10,757 8,410 9,886 8,379
Net effect of dilutive stock
options--based on the
treasury stock method
using average market price 259 321 350 320
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Total 11,016 8,731 10,236 8,699
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Net income (loss) $(3,319) $ 2,606 $ 2,515 $ 7,552
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Per share data:
Net income (loss) $ (0.30) $ 0.30 $ 0.25 $ 0.87
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Fully diluted
Average shares outstanding 10,757 8,410 9,886 8,379
Net effect of dilutive stock
options--based on the
treasury stock method
using average market price
or closing price if higher 259 321 371 320
Net effect of dilutive
convertible debentures--
based on the stated conversion
price of $14 per share 1,848 850 1,848
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Total 11,016 10,579 11,107 10,547
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Net income (loss) $(3,319) $ 2,606 $ 2,515 $ 7,552
Convertible bond interest,
net of income tax effect 308 408 922
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$(3,319) $ 2,914 $ 2,923 $ 8,474
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Per share data:
Net income (loss) $ (0.30) $ 0.28 $ 0.26 $ 0.80
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EXHIBIT 11
21