EXHIBIT 11.1
YEAR ENDED 6 MONTHS ENDED
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8/31/94 8/31/95 8/31/96 2/28/96 2/28/97
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Net income........................................ 1,027,000 4,904,000 8,845,000 4,852,000 4,685,000
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Weighted average common shares outstanding........ 12,150,000 12,150,000 12,168,804 12,158,862 12,288,819
Common stock options, utilizing treasury stock
method when dilutive............................ -- 419,221 1,669,723 1,190,913 1,808,549
Staff Accounting Bulletin No. 83 issuances and
grants (1)...................................... 375,432 375,432 375,432 375,432 375,432
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Weighted average shares outstanding............... 12,525,432 12,944,653 14,213,959 13,725,206 14,472,800
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Earnings per share:............................... 0.08 0.38 0.62 0.35 0.32
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(1) Pursuant to Securities and Exchange Commission Staff Accounting Bulletin No.
83, common and preferred stock issued for consideration below the assumed
initial public offering (IPO) price, and stock options and warrants granted
with exercise prices below the IPO price during the 12-month period
preceding the date of the initial filing of the Registration Statement, have
been included in the calculation of common equivalent shares, using the
treasury stock method, as if they were outstanding for all periods
presented.