EXHIBIT 11.1 - COMPUTATION OF PER SHARE EARNINGS (In thousands, except per share amounts) Three Months Ended Six Months Ended October 31, October 31, -------------------- ------------------ 1996 1995 1996 1995 ------- ------- ------- ------ Primary: Earnings: Net income (loss) $ (456) $ 308 $(1,083) $ 71 Shares: Weighted average shares outstanding 5,036 5,036 5,036 5,038 Per share amounts: Net income (loss) $ (.09) $ .04 $ (.22) $ .01 ------- ------- ------- ------ ------- ------- ------- ------ Fully diluted (A): Earnings: Net income (loss) $ (456) $ 308 $(1,083) $ 71 Shares: Weighted average shares outstanding 5,036 5,036 5,036 5,038 Net shares issuable on exercise of certain stock options 25 -- 67 4 ------- ------- ------- ------ Weighted average shares outstanding, as adjusted 5,061 5,036 5,103 5,042 Per share amounts: Net income (loss) $ (.09) $ .04 $ (.21) $ .01 ------- ------- ------- ------ ------- ------- ------- ------ Note A: This calculation is submitted in accordance with Regulation S-K item 601(b)(11) although it is contrary to paragraph 40 of APB Opinion No. 15 because it produces an anti-dilutive result.