EXHIBIT 11.1 Statement re computation of per share earnings Earnings per share - basic, are based upon the Company's weighted average number of common shares outstanding. 2004 2003 2002 ------ ------ ------- (In thousands - except per share data) Net Income $4,810 $3,544 $ 2,370 ====== ====== ======= Weighted average shares outstanding - basic 9,574 9,466 10,049 Shares issuable upon exercise of dilutive options 503 567 209 Less: shares assumed repurchased (164) (331) (69) ------ ------ ------- Weighted average shares outstanding - diluted 9,913 9,702 10,189 ====== ====== ======= Earnings per share - basic $ 0.50 $ 0.37 $ 0.24 Earnings per share - diluted $ 0.49 $ 0.37 $ 0.23