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EXHIBIT 11
COMPUTATION OF INCOME (LOSS)
PER COMMON AND COMMON EQUIVALENT SHARE (a)
(In thousands, except per share amounts)
Three Months Ended Six Months Ended
January 31, January 31,
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1995 1994 1995 1994
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PRIMARY INCOME (LOSS) PER SHARE:
Weighted average shares of common stock
outstanding 11,135 9,426 11,046 9,426
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Primary income (loss) per share $ .07 $(.10) $ .13 $(.03)
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FULLY DILUTED INCOME (LOSS) PER
SHARE:
Weighted average shares of common stock
outstanding 11,135 9,426 11,046 9,426
Shares issuable from assumed conversion of
stock options and warrants (treasury stock
method)
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Weighted average shares of common stock
outstanding, as adjusted 11,135 9,426 11,046 9,426
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Fully diluted income (loss) per share (b) $ .07 $(.10) $ .13 $(.03)
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NET INCOME (LOSS) FOR PRIMARY AND
FULLY DILUTED COMPUTATION:
Net income (loss) $ 829 $(982) $1,436 $(265)
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(a) Weighted average shares of common stock for all periods presented have
been restated to reflect the effect of a one for three reverse stock split
consummated on January 17, 1995.
(b) This calculation is submitted in accordance with Regulation S-K item
601(b)(11) although stock options and warrants had no dilutive effect.