Exhibit 11
Computation of Earnings Per Share
EXHIBIT 11. COMPUTATION OF EARNINGS PER SHARE
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Computation of Income per Common and Common Equivalent Shares:
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Year Ended June 30,
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1998 1997 1996
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Income before extraordinary items $ 67,333,318 $ 55,467,352 $ 66,195,421
Extraordinary items, net of tax benefit - (583,312) -
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Net Income $ 67,333,318 $ 54,884,040 $ 66,195,421
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BASIC EARNINGS PER SHARE:
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Weighted average number of common shares
outstanding used in basic earnings per share calculation 41,101,318 40,354,486 41,061,801
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Income before extraordinary items $ 1.64 $ 1.37 $ 1.61
Extraordinary items, net of tax benefit -- (.01) --
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Net income $ 1.64 $ 1.36 $ 1.61
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DILUTED EARNINGS PER SHARE:
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Weighted average number of common shares
outstanding used in basic earnings per share calculation 41,101,318 40,354,486 41,061,801
Add assumed exercise of outstanding stock options
as adjustments for dilutive securities 591,908 665,681 630,576
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Weighted average number of common shares
outstanding used in diluted earnings per share calculation 41,693,226 41,020,167 41,692,377
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Income before extraordinary items $ 1.62 $ 1.35 $ 1.59
Extraordinary items, net of tax benefit -- (.01) --
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Net income $ 1.62 $ 1.34 $ 1.59
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All per share data restated to reflect the three-for-two stock split effective December 15, 1997.
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