EXHIBIT 11.1

        STATEMENT RE: COMPUTATION OF PER SHARE DATA, UNDER SFAS NO. 128
                 (AMOUNTS IN THOUSANDS, EXCEPT PER SHARE DATA)

 
 
                                                            THREE MONTHS ENDED
                                                               DECEMBER 31,                Nine Months Ended
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                                                        1997            1996            1997            Dec. 96       
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Net income (loss)                                     $ 4,003         $ 1,898         $ 9,937         $ 4,541                      
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Average common shares outstanding                      12,049           5,018           7,588           4,995                      
                                                                                                                                   
Effect of assumed conversion of preferred                                                                                          
stock from date of issuance                             6,413          12,829           9,911          12,829                      
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Shares used in Basic computations                      18,463          17,847          17,499          17,824                      
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Earnings (loss) per share - Basic                     $  0.22         $  0.11         $  0.57         $  0.25                      
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Net effect of dilutive common share                                                                                                
equivalents based on the treasury stock                                                                                            
method (using average market price as                                                                                              
the buyback price)                                      1,920              73           1,807              73                      
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Shares used in Diluted computations                    20,383          17,920          19,306          17,897                      
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Earnings (loss) per share - Diluted                   $  0.20         $  0.11         $  0.51         $  0.25                      
                                                =====================================================================