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Exhibit 11.1 Computation of pro forma weighted average number of
common shares outstanding for the three month and six month
periods ended June 30, 1996 and 1997 (in thousands).
Three Months Six Months
Ended June 30, Ended June 30,
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1996 1997 1996 1997
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Number of shares outstanding after the Exchange 8,929 8,929 8,929 8,929
Employee stock options granted under the 1997
Incentive Plan 644 644 644 644
Shares assumed to be repurchased under the treasury stock method:
$3,220,485 (1)/$8.00 per share (2) (403) (403) (403) (403)
3,000,000 shares issued May 8, 1997 -- 1,747 -- 878
325,000 shares issured May 15, 1997 -- 165 -- 83
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Weighted average number of common
shares outstanding 11,082
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Pro forma weighted average number of common
shares outstanding 9,170 9,170 10,131
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Notes:
(1) Calculated by multiplying employee stock options granted under the 1997
Incentive Plan (644,097) by their exercise price ($5.00).
(2) Initial public offering price.