EXHIBIT 11.1 - COMPUTATION OF PER SHARE EARNINGS (In thousands, except per share amounts) Three Months Ended Nine Months Ended January 31, January 31, ------------------ ------------------ 1997 1996 1997 1996 ------- ------- -------- ------- Primary: Earnings: Net income (loss) $ 36 $ (540) $ (1,047) $ (469) Shares: Weighted average shares outstanding 5,036 5,036 5,036 5,036 Net shares issuable on exercise of certain stock options -- 1 -- 1 ------- ------- -------- ------- Weighted average shares outstanding, as adjusted 5,036 5,037 5,036 5,037 Per share amounts: Net income (loss) $ .01 $ (.11) $ (.21) $ (.09) ------- ------- -------- ------- ------- ------- -------- ------- Fully diluted (A): Earnings: Net income (loss) $ 36 $ (540) $ (1,047) $ (469) Shares: Weighted average shares outstanding 5,036 5,036 5,036 5,036 Net shares issuable on exercise of certain stock options -- 3 45 6 ------- ------- -------- ------- Weighted average shares outstanding, as adjusted 5,036 5,039 5,081 5,042 Per share amounts: Net income (loss) $ .01 $ (.11) $ (.21) $ (.09) ------- ------- -------- ------- ------- ------- -------- ------- Note A: This calculation is submitted for the three months ended January 31, 1996, and the nine months ended January 31, 1997 and 1996, 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.