EXHIBIT 11.1 COMPUTATION OF EARNINGS PER SHARE Three Months Ended Nine Months Ended ------------------------ ------------------------ 03/2/96 02/28/95 03/02/96 02/28/95 ---------- ---------- ---------- ---------- INCOME FROM CONTINUING OPERATIONS $1,484,000 $ 347,000 $3,168,000 $ 603,000 ---------- ---------- ---------- ---------- NET INCOME $1,484,000 $1,629,000 $5,372,000 $2,522,000 ========== ========== ========== ========== Earnings Per Share - ------------------ Weighted average number of shares outstanding 4,079,859 4,218,164 4,147,929 4,216,187 Common share equivalents, assuming exercise of stock options and warrants 238,345 111,539 271,839 105,676 ---------- ---------- ---------- ---------- Average shares used in computing earnings per share 4,318,204 4,329,703 4,419,768 4,321,863 ========== ========== ========== ========== Net income per share from continuing operations $ .34 $ .08 $ .72 $ .14 ---------- ---------- ---------- ---------- Net income per share $ .34 $ .38 $ 1.21 $ .58 ========== ========== ========== ========== 13