EXHIBIT 11.1
Statement Regarding Computation of Per Share Earnings
(Dollars and shares in thousands, except per share amounts)
Three Months Ended Nine Months Ended
June 30, June 30,
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1997 1996 1997 1996
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(Unaudited) (Unaudited)
Primary:
Weighted average number of common
shares outstanding during the period 11,996 11,991 11,995 11,987
Net effect of dilutive stock options -
based on the treasury stock method
using overall market price 0 0 0 0
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Total shares 11,996 11,991 11,995 11,987
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Net income $ 2,050 $ 1,027 $ 5,722 $ 2,070
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Earnings per share(a) $ 0.17 $ 0.09 $ 0.48 $ 0.17
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Fully diluted:
Weighted average number of common
shares outstanding during the period 11,996 11,991 11,995 11,987
Net effect of dilutive stock options -
based on the treasury stock method
using overall market price 8 0 8 0
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Total shares 12,004 11,991 12,003 11,987
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Net income $ 2,050 $ 1,027 $ 5,722 $ 2,070
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Earnings per share(a) $ 0.17 $ 0.09 $ 0.48 $ 0.17
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a Earnings per share calculations assume exercise of all outstanding stock
options and warrants using the treasury stock method of calculation.
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