EXHIBIT 11 - COMPUTATION OF NET EARNINGS PER COMMON SHARE
Years Ended August 31,
1995 1994 1993
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(Amounts in thousands,
except per share data)
Primary
Average shares outstanding 10,029 8,392 8,318
Net effect of dilutive stock
options and unearned stock
awards based on the
treasury stock method
using average market price 282 317 247
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Total 10,311 8,709 8,565
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Net income $ 923 $10,380 $ 8,976
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Per share data:
Net income $ 0.09 $ 1.19 $ 1.05
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Fully diluted
Average shares outstanding 10,029 8,392 8,318
Net effect of dilutive stock
options and unearned stock
awards based on the
treasury stock method
using average market price
or closing price if higher 296 358 273
Net effect of dilutive convertible
debentures--based on the stated
conversion price of $14 per share 635 1,826 1,851
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Total 10,960 10,576 10,442
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Net income $ 923 $10,380 $ 8,976
Convertible bond interest, net of
income tax effect 405 1,210 1,214
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Net income $ 1,328 $11,590 $10,190
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Per share data:
Net income $ 0.12 $ 1.10 $ 0.98
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EXHIBIT 11