1 EXHIBIT 11.1 COMPUTATION OF EARNINGS PER SHARE Three Months Ended Nine Months Ended September 30 September 30 1996 1997 1996 1997 Net Income (loss) $2,675,594 $3,506,220 $4,757,189 $9,468,100 Weighted average shares outstanding 7,243,547 7,427,576 7,207,278 7,380,684 Number of shares calculated using the Treasury stock method in accordance With APB15 648,155 524,022 619,656 535,698 --------- --------- --------- --------- Total weighted average shares outstanding 7,891,702 7,951,598 7,826,934 7,916,382 Earnings per share (loss) $ .34 $ .44 $ .61 $ 1.20 ========= ========= ========= ========= THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION FROM THE COMPANY'S CONSOLIDATED STATEMENTS OF EARNINGS AND CONSOLIDATED BALANCE SHEET AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.