EXHIBIT 11.1
COMPUTATION OF NET EARNINGS PER SHARE
(Dollars in thousands, except per share amounts)
Quarter Ended March 31
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1997 1996
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PRIMARY
Net Earnings $ 7,883 $ 6,183
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Shares of common stock and common stock equivalents:
Weighted average shares outstanding 27,410 27,167
Dilutive effect of stock options and warrants outstanding (1) 1,048 1,111
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Total 28,458 28,278
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Net Earnings Per Share $ 0.28 $ 0.22
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FULLY DILUTED
Net Earnings $ 7,883 $ 6,183
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Shares of common stock and common stock equivalents:
Weighted average shares outstanding 27,410 27,167
Dilutive effect of stock options and warrants outstanding (2) 1,048 1,111
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Total 28,458 28,278
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Net Earnings Per Share $ 0.28 $ 0.22
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(1) Outstanding stock options and warrants based on the treasury stock
method using the average market price for the quarter.
(2) Outstanding stock options and warrants based on the treasury stock
method using the greater of the average market price or the ending market
price for the quarter.
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