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,
------------------------ ---------------------
1997 1996 1997 1996
---------- ---------- ---------- -------
COMPONENTS OF PRIMARY NET INCOME
PER COMMON SHARE:
Income before extraordinary loss .......... $ 16,054 $ 16,689 $ 49,412 $ 46,859
Extraordinary loss......................... (633) - (633) -
-------- -------- -------- --------
Net income................................. $ 15,421 $ 16,689 $ 48,779 $ 46,859
======== ======== ======== ========
Average common shares outstanding
during the period........................ 43,324 44,547 43,238 44,419
Average treasury shares held
during the period........................ (2,732) (2,947) (2,313) (2,749)
Common shares issuable with
respect to common equivalents
for stock options........................ 936 1,047 940 918
-------- -------- ------- -------
Average common and common
equivalent shares outstanding ........... 41,528 42,647 41,865 42,588
======== ======== ======= =======
Primary earnings per share:
Income before extraordinary loss .......... $ 0.39 $ 0.39 $ 1.19 $ 1.10
Extraordinary loss......................... (0.02) - (0.02) -
------ ------ ------ ------
Net income................................ $ 0.37 $ 0.39 $ 1.17 $ 1.10
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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,
------------------------ ---------------------
1997 1996 1997 1996
---------- ---------- ---------- -------
COMPONENTS OF FULLY DILUTED NET INCOME
PER COMMON SHARE:
Income before extraordinary loss .......... $ 16,054 $ 16,689 $ 49,412 $ 46,859
Extraordinary loss......................... (633) - (633) -
-------- -------- -------- -------
Net income................................. $ 15,421 $ 16,689 $ 48,779 $ 46,859
======== ======== ======== ========
Average common shares outstanding
during the period........................ 43,324 44,547 43,238 44,419
Average treasury shares held
during the period........................ (2,732) (2,947) (2,313) (2,749)
Common shares issuable with
respect to common equivalents
for stock options........................ 872 1,157 872 1,158
-------- ------ ------- ------
Average common and common
equivalent shares outstanding ........... 41,464 42,757 41,797 42,828
======== ======= ======= =======
Fully diluted earnings per share:
Income before extraordinary loss .......... $ 0.39 $ 0.39 $ 1.19 $ 1.09
Extraordinary loss......................... (0.02) - (0.02) -
------ ------ ------ ------
Net income................................ $ 0.37 $ 0.39 $ 1.17 $ 1.09
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