EXHIBIT 11 COMPUTATION OF EARNINGS PER SHARE Three Months Ended ------------------------------------- June 30 ------------------------------------- 1995 1994 ----------------- ------------------ (in thousands, except per share data) Primary: Net Income $ 3,315 $ 2,607 ------- ------- Weighted average number common shares outstanding 9,785 9,283 Add: Dilutive effect of outstanding options, as determined by the application of the treasury stock method using the average market price of the Company's common stock 252 320 ------- ------- Weighted average number of common and common equivalent shares 10,037 9,603 ------- ------- Primary earnings per share $ .33 $ .27 ------- ------- Fully diluted: Weighted average number of common and common equivalent shares 10,037 9,603 Add: Additional dilutive effect of outstanding options, as determined by the application of the treasury stock method using the quarter end market price of the Company's common stock 12 0 ------- ------- Weighted average number of common shares fully diluted 10,049 9,603 ------- ------- Fully diluted earnings per share $ .33* $ .27* ------- ------- *Not presented in Financial Statements since dilutive effect is less than 3%.