EXHIBIT 11
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COMPUTATION OF EARNINGS PER SHARE
THREE MONTHS ENDED SIX MONTHS ENDED
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SEPTEMBER 30, SEPTEMBER 30,
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1995 1994 1995 1994
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(in thousands, except per share amounts)
PRIMARY:
Net Income $ 3,205 $ 2,507 $ 6,520 $ 5,114
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Weighted average number of
common shares outstanding 9,716 9,723 9,750 9,504
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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 306 317 278 318
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Weighted average number of common
and common equivalent share 10,022 10,040 10,028 9,822
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Primary earnings per share $ .32 $ .25 $ .65 $ .52
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Fully diluted:
Weighted average number of common
and common equivalent share 10,022 10,040 10,028 9,822
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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 1 28
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Weighted average number of common
shares fully diluted 10,023 10,040 10,056 9,822
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Fully diluted earnings per share* $ .32 $ .25 $ .65 $ .52
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*Not presented in Financial Statements since dilutive effect is less than 3%.