1 Exhibit 11.1 Computation of pro forma weighted average number of common shares outstanding for the three month and nine month periods ended September 30, 1996 and 1997 (in thousands). Three Months Nine Months Ended September 30, Ended September 30, ---------------------------- ---------------------------- 1996 1997 1996 1997 ------------ ------------ ------------ ------------- 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 - 3,000 - 1,594 325,000 shares issued May 15, 1997 - 325 - 164 ------------ Weighted average number of common shares outstanding 12,495 ============ ------------ ------------ ------------- Pro forma weighted average number of common shares outstanding 9,170 9,170 10,928 ============ ============ ============= 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.