1
Exhibit 11
Exhibit 11 - Statement Re: Computation of Earnings Per Share
1992 1993 1994 1995 1996
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PRIMARY
Weighted average number of
shares of Common Stock
outstanding 6,097 6,109 6,129 6,154 6,242
Net effect of dilutive
stock options - based on
the treasury stock method
using average market price 102 102 71 102 120
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TOTAL 6,199 6,211 6,200 6,256 6,362
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Net income $4,891 $4,270 $5,703 $8,980 $9,653
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Per share amount $0.80 $0.69 $0.92 $1.44 $1.52
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FULLY DILUTED
Weighted average number of
shares of Common Stock
outstanding 6,097 6,109 6,129 6,154 6,242
Net effect of dilutive
stock options - based on
the treasury stock method
using greater of average
market price or closing
market price 114 102 71 137 120
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TOTAL 6,211 6,211 6,200 6,291 6,362
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Net income $4,891 $4,270 $5,703 $8,980 $9,653
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Per share amount $0.80 $0.69 $0.92 $1.43 $1.52
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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.