EXHIBIT 11.1 - COMPUTATION OF PER SHARE EARNINGS
(Unaudited)
(In thousands, except per share amounts)
Three Months Ended
July 31,
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1997 1996
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Primary:
Earnings:
Net loss $ (252) $ (627)
Shares:
Weighted average shares outstanding 5,036 5,036
Per share amounts:
Net loss $ (.05) $ (.12)
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Fully diluted (A):
Earnings:
Net loss $ (252) $ (627)
Shares:
Weighted average shares outstanding 5,036 5,036
Net shares issuable on exercise of certain
stock options -- 108
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Weighted average shares outstanding, as adjusted 5,036 5,144
Per share amounts:
Net loss $ (.05) $ (.12)
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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.
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