1 EXHIBIT 11 - STATEMENT RE: COMPUTATION OF PER SHARE EARNINGS Three Months Ended Nine Months Ended September 30 September 30 (in thousands, except per share data) 1998 1997 1998 1997 - ------------------------------------------------------------------------------ ------------------------------ Basic: - ----- Average shares outstanding 24,486 23,812 24,439 23,746 ============ ============= ============= ============ Net Income $ 9,900 $ 26 $28,930 $15,949 ============ ============= ============= ============ Per Share Amount $ 0.40 $ 0.00 $ 1.18 $ 0.67 ============ ============= ============= ============ Diluted: - ------- Average shares outstanding 24,486 23,812 24,439 23,746 Net effect of dilutive stock options based on the treasury stock method using the average market price or quarter end price, whichever is greater 936 981 1,057 784 ------------ ------------- ------------- ------------ Total Shares Outstanding 25,422 24,793 25,496 24,530 ============ ============= ============= ============ Net Income $ 9,900 $ 26 $28,930 $15,949 ============ ============= ============= ============ Per Share Amount $ 0.39 $ 0.00 $ 1.13 $ 0.65 ------------ ------------- ------------- ------------