EXHIBIT 11 - STATEMENT RE: COMPUTATION OF PER SHARE EARNINGS
(In thousands, except per share amounts)
Three Months Ended
July 31,
1996 1995
Primary earnings per share:
Average share outstanding 4,910,100 4,850,800
Net effect of dilutive stock
options and warrants-based on
the treasury stock method
using average market price 508,000 417,100
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5,418,100 5,267,900
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Net income $ 831,400 $ 724,700
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Net income per share $ .15 $ .14
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Fully-diluted earnings per
share:
Average shares outstanding 4,910,100 4,850,800
Net effect of dilutive stock
options and warrants-based
on the treasury stock method
using ending market price (or
average market price if higher) 508,000 417,100
--------- ---------
5,418,100 5,267,900
========= =========
Net income $ 831,400 $ 724,700
========= =========
Net income per share $ .15 $ .14
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