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Exhibit (11) - Statement Re: Computation of Earnings per Unit
For The Year Ended
June 30,
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1997 1996 1995
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Average units outstanding (1) 5,421,671 5,766,897 6,399,722
Net effect of dilutive stock options based on the
treasury stock method using average market price 250,881 183,782 0
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Average units and equivalent units outstanding 5,672,552 5,950,679 6,399,722
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Income from continuing operations:
Income before interests of General Partners $ 420,306 $15,786,816 $ 5,517,331
Applicable to interests of:
General Partners of subsidiary partnerships 58,629 193,665 67,187
1% General Partnership interest of BCLP 3,617 155,932 54,498
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62,246 349,597 121,685
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Applicable to interests of Limited Partners $ 358,060 $15,437,219 $ 5,395,646
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Per Limited Partnership Unit $ 0.06 $ 2.59 $ 0.84
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Net income (loss)
Net income (loss) before interests of General
Partners $ 420,306 $54,200,529 $16,156,006
Applicable to interests of:
General Partners of subsidiary partnerships 58,629 756,574 453,796
1% General Partnership interest of BCLP 3,617 534,440 157,019
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62,246 1,291,014 610,815
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Applicable to interests of Limited Partners $ 358,060 $52,909,515 $15,545,191
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Per Limited Partnership Unit $ 0.06 $ 8.89 $ 2.43
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(1) Computation of Average Units Outstanding
For The Year Ended June 30,
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1997 1996 1995
--------- --------- ---------
Days in year 365 366 365
Computation of average units outstanding:
Units outstanding July 1 - August 29 5,876,164 6,399,722 6,399,722
Units outstanding August 30 - November 29 5,876,164 5,641,278 6,399,722
Units outstanding November 30- June 28 5,096,164 5,641,278 6,399,722
Units outstanding June 29 5,096,164 5,876,164 6,399,722
Units outstanding June 30 5,346,164 5,876,164 6,399,722
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Average units outstanding 5,421,671 5,766,897 6,399,722
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