EXHIBIT 11
COMPUTATION OF NET INCOME PER COMMON SHARE
Sept. 29, Oct. 1, Oct. 2,
1996 1995 1994
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Primary:
Common stock outstanding, beginning of
year........................................ 13,235,309 13,140,044 12,922,618
Payment for fractional shares................ (169) (195) (391)
Stock options exercised...................... 101,626 109,896 63,632
Issuance of common stock..................... 790,236 165,440
Treasury stock purchased-net................. (11,255)
Stock purchased and retired.................. (14,436)
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Common stock outstanding, end of year........ 14,127,002 13,235,309 13,140,044
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Weighted average shares outstanding
during the period assuming the
exercise of options and warrants............ 15,200,351 14,175,840 13,769,698
Shares assumed repurchased under the
treasury stock method at an assumed
fair market value per share of
$18.27, $13.38, and $6.80 at
September 29, 1996, October 1, 1995
and October 2, 1994, respectively........... (748,735) (642,302) (450,568)
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Total..................................... 14,451,616 13,533,538 13,319,130
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Net Income as reported in consolidated
financial statements........................ $10,105,000 $ 7,553,000 $ 5,709,000
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Primary net income per common share.......... $ 0.70 $ 0.56 $ 0.43
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FULLY DILUTED:
Weighted average shares outstanding
during the period assuming the
exercise of options and warrants............ 15,200,351 14,175,840 13,769,698
Shares assumed repurchased under the
treasury stock method at an assumed
fair market value per share of
$23.75, $18.60 and $12.24 at
September 29, 1996, October 1, 1995
and October 2, 1994, respectively........... (576,681) (462,062) (359,864)
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Total..................................... 14,623,670 13,713,778 13,409,834
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Net income as reported in consolidated
financial statements........................ $10,105,000 $ 7,553,000 $ 5,709,000
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Fully diluted net income per common.......... $0.69 $0.55 $0.43
share....................................... =========== =========== ===========