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EXHIBIT 11--STATEMENT RE: COMPUTATION OF PER SHARE EARNINGS
Three Months Ended Nine Months Ended
March 31, March 31,
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1997 1996 1997 1996
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PRIMARY:
Average shares outstanding 7,126,444 5,378,766 6,823,108 5,372,418
Net effect of dilutive stock
options and warrants--based
on the treasury stock method
using average market price 173,262 306,364 221,627 250,070
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TOTAL 7,299,706 5,685,130 7,044,734 5,622,488
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Net income $ 1,267,000 $ 1,047,000 $ 4,230,000 $ 2,017,000
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Per share amount $ .17 $ .18 $ .60 $ .36
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FULLY DILUTED:
Average shares outstanding 7,126,444 5,378,766 6,823,108 5,372,418
Net effect of dilutive stock
options and warrants--based
on the treasury stock method
using the higher of ending
or average market price 173,262 329,522 221,627 322,872
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TOTAL 7,299,706 5,708,288 7,044,734 5,695,290
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Net income $ 1,267,000 $ 1,047,000 $ 4,230,000 $ 2,017,000
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Per share amount $ .17 $ .18 $ .60 $ .35
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