1
Exhibit 11.1
Computation of Earnings per Share
Three months ended Nine months ended
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July 28, July 28, July 30, July 30,
1995 1996 1995 1996
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Primary Earnings per Common and
Common Equivalent Share:
Average Market Price $ 21.89 $ 19.34 $ 19.02 $ 19.34
Weighted average common shares
outstanding during period 7,584,326 7,659,854 6,391,629 7,659,854
Common Stock Equivalents -
Common Stock Options 44,643 108,994 49,839 97,300
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Weighted average common and
common equivalent shares 7,628,969 7,768,848 *6,441,468 7,757,154
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Net earnings for period $1,889,385 $2,148,341 $4,448,977 $5,033,792
========== ========== ========== ==========
Primary earnings per share $.25 $.28 *$.69 $.65
========== ========== ========== ==========
Fully Diluted Earnings per Common and
Common Equivalent Share:
Greater of average market price or
closing market price $ 21.89 $ 19.34 $ 21.88 $ 19.34
Weighted average common shares
outstanding during period (from above) 7,584,326 7,659,854 6,391,629 7,659,854
Common Stock Equivalents - Common
Stock Options 44,643 108,994 49,839 97,300
---------- ---------- ---------- ----------
Fully diluted weighted average
common and common equivalent shares 7,628,969 7,768,848 *6,441,468 7,757,154
========== ========== ========== ==========
Net earnings for the period $1,889,385 $2,148,341 $4,448,977 $5,033,792
========== ========== ========== ==========
Fully diluted earnings per share $.25 $.28 *$.69 $.65
========== ========== ========== ==========
* Amounts have been restated to reflect properly the sale of 1,770,000 shares
of Common Stock effective May 1, 1995.