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EXHIBIT 11
STATEMENT RE: COMPUTATION OF EARNINGS PER SHARE
1991 1992 1993 1994 1995
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PRIMARY
Weighted average number of shares of Common Stock outstanding 6,057 6,097 6,109 6,129 6,154
Net effect of dilutive stock options - based on the treasury
stock method using average market price 62 102 102 71 102
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TOTAL 6,119 6,199 6,211 6,200 6,256
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Net income $4,230 $4,981 $4,270 $5,703 $8,980
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Per share amount $ 0.69 $ 0.80 $ 0.69 $ 0.92 $ 1.44
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FULLY DILUTED
Weighted average number of shares of Common Stock outstanding 6,057 6,097 6,109 6,129 6,154
Net effect of dilutive stock options - based on the treasury
stock method using greater of average market price or
closing market price 64 114 102 71 137
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TOTAL 6,121 6,211 6,211 6,200 6,291
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Net income $4,230 $4,981 $4,270 $5,703 $8,980
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Per share amount $ 0.69 $ 0.80 $ 0.69 $0.92 $ 1.43
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The per share and share numbers have been adjusted to reflect the 100% share
distribution paid on April 14, 1992. In thousands, except per share data.