EXHIBIT 11.1 COMPUTATION OF PRIMARY EARNINGS PER SHARE (in thousands, except per share data) Years Ended September 30, --------------------------------- 1997 1996 1995 ------- ------- ------- Shares: Weighted average number of common shares outstanding .................... 14,047 11,789 9,087 Additional shares assuming conversion of: Stock options ........................ 577 539 351 Warrants ............................. -- 33 178 Preferred stock ...................... -- 667 500 ------- ------- ------- Weighted average shares outstanding ..... 14,624 13,028 10,116 Net income .............................. $10,146 $ 5,953 $ 2,770 ======= ======= ======= Primary earnings per share .............. $ 0.69 $ 0.46 $ 0.27 ======= ======= ======= All share amounts and per share data have been restated to reflect the two-for-one stock split effected as a stock dividend on May 28, 1996.