Exhibit 11
(Page 1 of 2)
COMPUTATION OF NET INCOME PER COMMON SHARE
(in thousands - except per share amounts)
Three months Nine months
ended March 31, ended March 31,
1995 1994 1995 1994
---------- ---------- ---------- -------
COMPONENTS OF PRIMARY NET INCOME
PER COMMON SHARE:
Income before extraordinary loss........... $ 14,254 $ 11,387 $ 41,170 $ 44,151
Extraordinary loss......................... -- -- (4,493) --
--------- -------- -------- -------
Net income................................. $ 14,254 $ 11,387 $ 36,677 $ 44,151
----------- -------- --------- -------
----------- -------- --------- -------
Average common shares outstanding
during the period........................ 22,037 21,964 22,023 21,902
Average treasury shares held
during the period........................ (1,130) -- (707) --
Common shares issuable with
respect to common equivalents
for stock options........................ 268 287 238 236
------ ------ ------ ------
Average common and common
equivalent shares outstanding............ 21,175 22,251 21,554 22,138
------ ------ ------ ------
------ ------ ------ ------
Primary earnings per share:
Income before extraordinary loss......... $ 0.67 $ 0.51 $ 1.91 $ 1.99
Extraordinary loss....................... -- -- (0.21) --
-------- ------ ------ ------
Net income............................... $ 0.67 $ 0.51 $ 1.70 $ 1.99
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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 Nine months
ended March 31, ended March 31,
1995 1994 1995 1994
---------- ---------- ---------- -------
COMPONENTS OF FULLY DILUTED NET
INCOME PER COMMON SHARE:
Income before extraordinary loss........... $ 14,254 $ 11,387 $ 41,170 $ 44,151
Extraordinary loss......................... -- -- (4,493) --
--------- ---------- --------- -------
Net income................................. $ 14,254 $ 11,387 $ 36,677 $ 44,151
--------- ---------- --------- --------
--------- ---------- --------- --------
Average common shares outstanding
during the period........................ 22,037 21,964 22,023 21,902
Average treasury shares held
during the period........................ (1,130) - (707) -
Common shares issuable with
respect to common equivalents
for stock options........................ 302 257 302 258
------ ------ ------ ------
Average common and common
equivalent shares outstanding............ 21,209 22,221 21,618 22,160
------ ------ ------ ------
------ ------ ------ ------
Fully diluted earnings per share:
Income before extraordinary loss......... $ 0.67 $ 0.51 $ 1.91 $ 1.99
Extraordinary loss....................... -- -- (0.21) --
------- ------- ------- ------
Net income............................... $ 0.67 $ 0.51 $ 1.70 $ 1.99
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