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Exhibit 11
Computation of Per Share Earnings
(Unaudited)
(In thousands except per share amounts)
Three Months Ended Six Months Ended
--------------------------- ---------------------------
May 29, 1994 May 30, 1993 May 29, 1994 May 30, 1993
------------ ------------ ------------ ------------
Income before cumulative effect of
accounting change $4,088 $3,544 $7,091 $6,077
Cumulative effect of change in
accounting for income taxes - - 795 -
------ ------ ------ ------
Net income $4,088 $3,544 $7,886 $6,077
====== ====== ====== ======
Primary per share earnings
- - --------------------------
Average number of common shares
outstanding 16,110 16,116 16,112 16,107
Add - common equivalent shares
representing shares issuable
upon exercise of stock options
and stock grants 221 158 205 137
------ ------ ------ ------
Average shares used to calculate
primary per share earnings 16,331 16,274 16,317 16,244
====== ====== ====== ======
Primary per share earnings before
change in accounting for income
taxes $0.25 $0.22 $0.43 $0.37
====== ====== ====== ======
Cumulative effect of change in
accounting for income taxes - - 0.05 -
------ ------ ------ ------
Net primary per share earnings $0.25 $0.22 $0.48 $0.37
====== ====== ====== ======
Fully diluted per share earnings
- - --------------------------------
Average number of common shares
outstanding 16,110 16,116 16,112 16,107
Add - common equivalent shares
representing shares issuable
upon exercise of stock options
and stock grants 221 158 247 137
------ ------ ------ ------
Average shares used to calculate
fully diluted per share earnings 16,331 16,274 16,359 16,244
====== ====== ====== ======
Fully diluted per share earnings
before change in accounting for
income taxes $0.25 $0.22 $0.43 $0.37
====== ====== ====== ======
Cumulative effect of change in
accounting for income taxes - - 0.05 -
------ ------ ------ ------
Net fully diluted per share earnings $0.25 $0.22 $0.48 $0.37
====== ====== ====== ======