1 EXHIBIT 11.1 CALCULATION OF EARNINGS PER SHARE FOR THE THREE MONTHS AND SIX MONTHS ENDED JUNE 28, 1997 AND JUNE 29, 1996 - ---------------------------------------------------------------------------------------------------------------------- THREE MONTHS THREE MONTHS SIX MONTHS SIX MONTHS ENDED ENDED ENDED ENDED JUNE 28, 1997 JUNE 29, 1996 JUNE 28, 1997 JUNE 29, 1996 - ---------------------------------------------------------------------------------------------------------------------- Net income . . . . . . . . . . . . . . . . . . $2,033,461 $1,611,917 $3,212,754 $2,569,666 ========== ========== ========== ========== Common and common equivalent shares: Weighted average number of common shares outstanding during the period . . . . . . . . . . . 5,676,862 5,445,610 5,654,543 5,444,708 Common shares issuable upon exercise of outstanding stock options Primary . . . . . . . . . . . . 265,583 495,957 303,304 458,815 Fully diluted . . . . . . . . . 287,381 495,957 306,623 493,595 Common and common equivalent shares outstanding during the period Primary . . . . . . . . . . . . 5,942,445 5,941,567 5,957,847 5,903,523 ========== ========== ========== ========== Fully diluted . . . . . . . . . 5,964,243 5,941,567 5,961,166 5,938,303 ========== ========== ========== ========== Earnings per share data Net income per common and common equivalent shares Primary . . . . . . . . . . . . $ 0.34 $ 0.27 $ 0.54 $ 0.44 Fully diluted . . . . . . . . . $ 0.34 $ 0.27 $ 0.54 $ 0.43 19