EXHIBIT 11
EARNINGS PER SHARE
FOR FISCAL YEARS ENDED
Years Ended December 31,
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1993 1992 1991
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Earnings (loss) before income taxes,
extraordinary items and cumulative effect
of accounting change............................................................... $31,836,000 $(7,270,000) $ 2,185,000
Income taxes......................................................................... 12,416,000 526,000 787,000
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Earnings (loss) before extraordinary items
and cumulative effect of accounting change......................................... 19,420,000 (7,796,000) 1,398,000
Extraordinary items, net of income taxes............................................. (619,000) (958,000) (1,269,000)
Cumulative effect of accounting change............................................. 1,500,000 - -
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Net earnings (loss)................................................................. $20,301,000 $(8,754,000) $ 129,000
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Weighted average common and common
equivalent shares................................................................. 31,537,000 30,201,000 29,704,000
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Earnings (loss) per common and common
equivalent share:
Earnings (loss) before extraordinary items...................................... $ .61 $ (.26) $ .05
Extraordinary items, net of income taxes........................................ (.02) (.03) (.05)
Cumulative effect of accounting change.......................................... .05 - -
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Net earnings (loss)............................................................. $ .64 $ (.29) $ -
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Weighted average common shares - assuming
full dilution...................................................................... 31,653,000 30,251,000 29,741,000
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Earnings (loss) before extraordinary items and
cumulative effect of accounting change.......................................... $ .61 $ (.26) $ .05
Extraordinary items, net of income taxes.......................................... (.02) (.03) (.05)
Cumulative effect of accounting change............................................ .05 - -
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Net earnings (loss)............................................................... $ .64 $ (.29) $ -
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