Exhibit 11
(Page 1 of 2)
COMPUTATION OF NET INCOME PER COMMON SHARE
(in thousands - except per share amounts)
Three months Six months
ended December 31, ended December 31,
----------------- ------------------
1994 1993 1994 1993
---- ---- ---- ----
COMPONENTS OF PRIMARY NET INCOME
PER COMMON SHARE:
Income before extraordinary loss $ 11,842 $ 16,392 $ 26,916 $ 32,764
Extraordinary loss ............. (4,493) -- (4,493) --
--------- --------- --------- ---------
Net income ..................... $ 7,349 $ 16,392 $ 22,423 $ 32,764
========= ========= ========= =========
Average common shares outstanding
during the period ............ 22,021 21,905 22,016 21,872
Average treasury shares held
during the period ............ (801) -- (500) --
Common shares issuable with
respect to common equivalents
for stock options ............ 229 257 235 225
--------- --------- --------- ---------
Average common and common
equivalent shares outstanding 21,449 22,162 21,751 22,097
========= ========= ========= =========
Primary earnings per share:
Income before extraordinary loss $ 0.55 $ 0.74 $ 1.24 $ 1.48
Extraordinary loss ............ (0.21) -- (0.21) --
------ ----- ------ -----
Net income .................... $ 0.34 $ 0.74 $ 1.03 $ 1.48
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Exhibit 11
(Page 2 of 2)
COMPUTATION OF NET INCOME PER COMMON SHARE
(in thousands - except per share amounts)
Three months Six months
ended December 31, ended December 31,
----------------- ------------------
1994 1993 1994 1993
---- ---- ---- ----
COMPONENTS OF FULLY DILUTED NET
INCOME PER COMMON SHARE:
Income before extraordinary loss . $ 11,842 $ 16,392 $ 26,916 $ 32,764
Extraordinary loss ............... (4,493) -- (4,493) --
--------- --------- ---------
Net income ....................... $ 7,349 $ 16,392 $ 22,423 $ 32,764
========= ========= ========= =========
Average common shares outstanding
during the period .............. 22,021 21,905 22,016 21,872
Average treasury shares held
during the period .............. (801) -- (500) --
Common shares issuable with
respect to common equivalents
for stock options .............. 268 289 267 290
--------- --------- --------- ---------
Average common and common
equivalent shares outstanding .. 21,488 22,194 21,783 22,162
========= ========= ========= =========
Fully diluted earnings per share:
Income before extraordinary loss $ 0.55 $ 0.74 $ 1.24 $ 1.48
Extraordinary loss ............. (0.21) -- (0.21) --
--------- --------- --------- ---------
Net income ..................... $ 0.34 $ 0.74 $ 1.03 $ 1.48
========= ========= ========= =========