EXHIBIT 11
COMPUTATION OF PER SHARE DATA
(UNAUDITED)
Three Months Ended
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December 31, January 1,
1994 1994
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Income applicable to common stock before
cumulative effect of change in accounting
principle $ 2,114,000 $ 1,438,000
Cumulative effect of change in accounting - 14,128,000
principle ----------- -----------
Net income applicable to common stock $ 2,114,000 $15,566,000
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Primary:
Weighted average number of common shares
outstanding 14,549,749 13,847,700
Shares issuable upon conversion of Series A
Convertible Preferred Stock 1,033,968 1,247,982
Shares issuable upon exercise of dilutive
stock options and warrants --
net of shares assumed to be repurchased
(at the average market price
for the period) from exercise proceeds 728,468 1,721,180
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Shares used for computation 16,312,185 16,816,862
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Income per share of common stock (primary):
Income before cumulative effect of change in
accounting principle $ .13 $ .09
Cumulative effect of change in accounting
principle - .84
----------- -----------
Net income $ .13 $ .93
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Assuming full dilution:
Weighted average number of common shares
outstanding 14,549,749 13,847,700
Shares issuable upon conversion of Series A
Convertible Preferred Stock 1,033,968 1,247,982
Shares issuable upon exercise of dilutive
stock options and warrants --
net of shares assumed to be repurchased
(at the higher of period-end
market price or the average market price
for the period) from
exercise proceeds 728,468 1,750,945
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Shares used for computation 16,312,185 16,846,627
=========== ===========
Income per share of common stock (assuming full
dilution)
Income before cumulative effect of change in
accounting principle $ .13 $ .08
Cumulative effect of change in accounting
principle - .84
----------- -----------
Net income $ .13 $ .92
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