EXHIBIT 11
CALCULATION OF PRIMARY NET (LOSS) EARNINGS
PER COMMON AND COMMON EQUIVALENT SHARE
QUARTER ENDED SIX MONTHS ENDED
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JUNE 28, JUNE 30, JUNE 28, JUNE 30,
1996 1995 1996 1995
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Net (loss) earnings per common and common
equivalent share $ (346,000) $ 5,469,000 $ 5,143,000 $10,161,000
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Average number of shares outstanding -
primary:
Average number of common shares
outstanding 15,420,000 15,425,000 15,408,000 15,422,000
Dilutive effect of stock options after
application of treasury stock method 0 244,000 508,000 237,000
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Average number of shares outstanding 15,420,000 15,669,000 15,916,000 15,659,000
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(Loss) earnings per share:
Primary $ (0.02) $ 0.35 $ 0.32 $ 0.65
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CALCULATION OF FULLY DILUTED NET (LOSS) EARNINGS
PER COMMON AND COMMON EQUIVALENT SHARE
QUARTER ENDED SIX MONTHS ENDED
------------------------ -------------------------
JUNE 28, JUNE 30, JUNE 28, JUNE 30,
1996 1995 1996 1995
----------- ----------- ----------- -----------
Net (loss) earnings per common and common
equivalent share $ (346,000) $ 5,469,000 $ 5,143,000 $10,161,000
----------- ----------- ----------- -----------
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Shares used in calculating primary earnings
per share:
Average number of common shares
outstanding fully-diluted 15,420,000 15,425,000 15,408,000 15,422,000
Additional effect of stock options after
application of treasury stock method 0 244,000 525,000 270,000
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Average number of shares outstanding 15,420,000 15,669,000 15,933,000 15,692,000
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(Loss) earnings per share:
Fully-diluted $ (0.02) $ 0.35 $ 0.32 $ 0.65
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11