EXHIBIT 11
COMPUTATION OF NET INCOME PER SHARE
(In thousands, except per share amounts)
Thirteen Three
Weeks Weeks
Ended Ended
May 31, May 31,
1997 1996
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Primary
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Average shares outstanding 25,958 20,646
Net effect of dilutive stock options - based
on the treasury stock method using average
market price 610 560
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Total 26,568 21,206
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Net income $ 4,491 $ 3,177
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Per share amount $ .17 $ .15
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Fully Diluted
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Average shares outstanding 25,958 20,646
Net effect of dilutive stock options - based
on the treasury stock method using the higher
of the average market price for the period or
the market price at the end of the period 610 690
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Total 26,568 21,336
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Net income $ 4,491 $ 3,177
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Per share amount $ .17 $ .15
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NOTE: Average shares outstanding used for net income per share included in the
Company's financial statements reflect the effect of the stock options
granted since their effect is approximately 3% dilutive. Only fully
diluted earnings per share have been disclosed in the Company's financial
statements as primary earnings per share are substantially the same.
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