Exhibit 11
Calculation of Earnings Per Share
(In Thousands, Except Per-Share Data)
Three Months Ended
June 30,
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1995 1994
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Fully Fully
Primary Diluted Primary Diluted
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Weighted average shares outstanding:
Common stock 8,110 8,110 8,058 8,058
Stock options 655 676 598 617
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Total 8,765 8,786 8,656 8,675
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Net income $ 4,381 4,381 3,641 3,641
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Net income per share $ 0.50 0.50 0.42 0.42
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Six Months Ended
June 30,
-------------------------------------
1995 1994
----------------- -----------------
Fully Fully
Primary Diluted Primary Diluted
------- ------- ------- -------
Weighted average shares outstanding:
Common stock 8,105 8,105 8,053 8,053
Stock options 609 640 573 601
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Total 8,714 8,745 8,626 8,654
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Net income $ 8,449 8,449 7,131 7,131
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Net income per share $ 0.97 0.97 0.83 0.82
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