EXHIBIT 11.0
STATEMENT RE: COMPUTATION OF PER SHARE EARNINGS
Three months ended
September 30,
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1997 1996
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(In thousands, except per share amount)
Net Income............................................................. $ 4,741 $(1,404)
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Weighted average common shares outstanding............................. 8,225 8,372
Common stock equivalents due to dilutive
effect of stock option........................................... 749 --
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Total weighted average common shares and
equivalents outstanding.......................................... 8,974 8,372
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Earnings per common and common
share equivalents................................................ $ 0.53 $ (0.17)
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Total weighted average common shares and
equivalents outstanding.......................................... 8,974 8,372
Additional dilutive shares using ending period market value versus average
market value for the period when utilizing the treasury
stock method regarding stock options............................. 49 --
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Total shares for fully dilutive earnings per share..................... 9,023 8,372
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Fully diluted earnings per common and
common share equivalents......................................... $ 0.53 $ (0.17)
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20