Exhibit 11
COMPUTATION OF PER SHARE DATA
(UNAUDITED)
Six Months Ended Three Months Ended
---------------- ------------------
April 1, April 2, April 1, April 2,
1995 1994 1995 1994
---- ---- ---- ----
Income from continuing operations $ 2,535,000 $ 2,003,000 $ 421,000 $ 565,000
Income from discontinued operations - 466,000 - 466,000
Cumulative change in accounting principle
- 14,128,000 - -
NET INCOME ----------- ----------- ----------- -----------
$ 2,535,000 $16,597,000 $ 421,000 $ 1,031,000
=========== =========== =========== ===========
Primary:
Weighted average number of common shares 14,630,161 14,182,224* 14,665,090 14,226,751*
outstanding
Shares issuable upon conversion of Series A 995,751 1,186,888 995,751 1,186,888
Convertible Preferred Stock
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 468,852 1,070,905* 434,993 922,816*
----------- ----------- ----------- -----------
Shares used for computation 16,094,764 16,440,017* 16,095,834 16,336,455*
=========== =========== =========== ===========
Income per share of common stock (primary):
Continuing operations $ .16 $ .12 $ .03 $ .03
Discontinued operations - .03 - .03
Change in accounting principle - .86* - -
----------- ----------- ----------- -----------
NET INCOME $ .16 $ 1.01* $ .03 $ .06
=========== =========== =========== ===========
Assuming full dilution:
Weighted average number of common shares 14,630,161 14,182,224* 14,665,090 14,226,751*
outstanding
Shares issuable upon conversion of series A
Convertible Preferred Stock 995,751 1,186,888 995,751 1,186,888
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 694,201 1,086,071* 684,177 922,816*
----------- ----------- ----------- -----------
Shares used for computation 16,320,113 16,455,183* 16,345,018 16,336,455*
=========== =========== =========== ===========
Income per share of common stock
(assuming full dilution): **
Continuing operations $ .16 $ .12 $ .03 $ .03
Discontinued operations - .03 - .03
Change in accounting principle - .86* - -
----------- ----------- ----------- -----------
NET INCOME $ .16 $ 1.01* $ .03 $ .06
=========== =========== =========== ===========
* Revised
** Not presented because dilution is less than 3 percent from primary amounts.