1 EXHIBIT 11.1 CALCULATION OF EARNINGS PER SHARE FOR THE THREE MONTHS AND NINE MONTHS ENDED SEPTEMBER 27, 1997 AND SEPTEMBER 28, 1996 - ----------------------------------------------------------------------------------------------------------------------------- THREE MONTHS THREE MONTHS NINE MONTHS NINE MONTHS ENDED ENDED ENDED ENDED SEPT. 27, 1997 SEPT. 28, 1996 SEPT. 27, 1997 SEPT. 28, 1996 - ----------------------------------------------------------------------------------------------------------------------------- Net income . . . . . . . . . . . . . . . . . . . . . . $1,606,923 $1,395,676 $4,819,677 $3,965,342 ========== ========== ========== ========== Common and common equivalent shares: Weighted average number of common shares outstanding during the period. . . . . . . . . . . . . . . . 5,708,583 5,504,280 5,672,689 5,463,983 Common shares issuable upon exercise of outstanding stock options Primary . . . . . . . . . . . . . . . . 246,521 435,786 284,232 437,592 Fully diluted . . . . . . . . . . . . . 246,521 438,985 284,232 455,596 Common and common equivalent shares outstanding during the period Primary . . . . . . . . . . . . . . . . 5,955,104 5,940,066 5,956,921 5,901,575 ========= ========= ========= ========= Fully diluted . . . . . . . . . . . . . 5,955,104 5,943,265 5,956,921 5,919,579 ========= ========= ========= ========= Earnings per share data Net income per common and common equivalent shares Primary . . . . . . . . . . . . . . . . $ 0.27 $ 0.23 $ 0.81 $ 0.67 Fully diluted . . . . . . . . . . . . . $ 0.27 $ 0.23 $ 0.81 $ 0.67 37