EXHIBIT 11
COMPUTATION OF PER SHARE DATA
(UNAUDITED)
YEAR ENDED
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SEPTEMBER 30, SEPTEMBER 30, SEPTEMBER 30,
1997 1996 1995
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Income (loss) from continuing operations $(8,901,000) $(11,092,000) $ 612,000
Income from discontinued operations - 2,800,000 -
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NET INCOME (LOSS) $(8,901,000) $ (8,292,000) $ 612,000
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Primary:
Weighted average number of common shares outstanding 18,681,017 18,340,248 16,669,827
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 - 127,000 473,554
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Shares used for computation 18,681,017 18,467,248 17,143,381
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Income (loss) per share of common stock (primary):
Continuing operations $ (.48) $ (.60) $ .04
Discontinued operations - .15 -
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NET INCOME (LOSS) $ (.48) $ (.45) $ .04
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Assuming full dilution:
Weighted average number of common shares outstanding 18,681,017 18,340,248 16,669,827
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 - 127,000 473,554
----------- ------------ -----------
Shares used for computation 18,681,017 18,467,248 17,143,381
=========== ============ ===========
Income (loss) per share of common stock
(assuming full dilution) (a):
Continuing operations $ (.48) $ (.60) $ .04
Discontinued operations
- .15 -
NET INCOME (LOSS) ----------- ------------ -----------
$ (.48) $ (.45) $ .04
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(a) Not presented because dilution is less than 3% from primary amounts.