EXHIBIT 11
CALCULATION OF NET INCOME PER COMMON SHARE BASED
ON EXERCISE OF DILUTIVE STOCK OPTIONS
1995 1994 1993 1992 1991
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Dilutive options outstanding at
end of period (000) -0- 625 478 204 -0-
Proceeds of dilutive options if
exercised (000) $ -0- $3,260 $1,123 $ 335 $ -0-
-Shares assumed to have been
repurchased from proceeds of
options if exercised (assuming
average share price) (000) -0- 446 379 189 -0-
Increase in shares (000) -0- 179 110 15 -0-
Weighted average common shares
outstanding (000) 3,848 3,631 3,804 3,803 3,816
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Weighted average common shares
outstanding for calculation of
primary and fully diluted earnings
per share (000) 3,848 3,810 3,914 3,818 3,816
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Net income (loss) (000) $(2,321) $2,684 $1,745 $ 450 $(6,018)
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Net income (loss) per common
share as set forth in the
"Statements of Operations" based on
weighted average common shares
outstanding during each period $ (.60) $ .70 $ .45 $ .12 $ (1.58)
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Additional Primary and Fully
Diluted Earnings per Share
Computations*
Primary earnings per common share $ (.60) $ .70 $ .45 $ .12 $ (1.58)
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Fully diluted earnings per common
share $ (.60) $ .70 $ .45 $ .12 $ (1.58)
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<FN>
<F1> * This calculation is submitted in accordance with Securities Exchange Act
of 1934 Release No. 9083 although not required by footnote 2 to paragraph
14 of APB No. 15 because it results in dilution of less than 3%.
</FN>
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