Exhibit (11)
Statement of Determination of Common Shares and Common Share Equivalents
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Average number of common shares and common share equivalents assumed
outstanding during the three fiscal years ended:
March 1, March 2, February 25,
1997 1996 1995
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Primary:
Weighted average of common
shares outstanding (a) 27,383,996 26,975,831 26,771,607
Common share equivalents resulting
from the assumed exercise of stock options (b) 673,065 281,868 229,542
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Total primary common shares and
common share equivalents 28,057,061 27,257,699 27,001,149
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Net earnings $26,220,000 $17,835,000 $13,050,000
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Per share amount $ 0.93 $ 0.65 $ 0.48
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Assuming full dilution:
Total common shares and common share
equivalents as determined for primary computation 28,057,061 27,257,699 27,001,149
Additional dilutive effect resulting
from the assumed exercise of stock options (c) 42,473 10,589 32,013
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Total fully diluted common shares
and common share equivalents 28,099,534 27,268,288 27,033,162
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Per share amount $ 0.93 $ 0.65 $ 0.48
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Notes:
(a) Beginning balance of common stock adjusted for February, 1997 two-for-one
stock split and changes in amount outstanding, weighted by the elapsed
portion of the period during which the shares were outstanding.
(b) Common share equivalents computed by the "treasury" method. Share amounts
represent the dilutive effect of outstanding stock options which have an
option value below the average market value for the current period.
(c) Share amounts represent the additional dilutive effect of outstanding
stock options where the underlying market value of the stock at the end
of the period is in excess of the average market value for the period.