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EXHIBIT 11
Three Months Ended Six Months Ended
June 30, June 30,
(in thousands, except per share data) -------- --------
1996 1995 1996 1995
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PRIMARY
Weighted average number of common and common equivalent shares outstanding:
Common stock 13,654 11,832 13,586 11,800
Common stock equivalent shares
resulting from stock options
(treasury stock method) 781 696 779 718
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Total 14,435 12,528 14,365 12,518
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Net income $ 2,885 $ 1,485 $ 5,436 $ 2,602
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Net income per common and common equivalent share $ 0.20 $ 0.12 $ 0.38 $ 0.21
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FULLY DILUTED
Weighted average number of common and common equivalent shares outstanding:
Common stock 13,654 11,832 13,586 11,800
Common stock equivalent shares
resulting from stock options
(treasury stock method) 787 700 824 726
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Total 14,441 12,532 14,410 12,526
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Net income $ 2,885 $ 1,485 $ 5,436 $ 2,602
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Net income per common and common equivalent share $ 0.20 $ 0.12 $ 0.38 $ 0.21
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