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EXHIBIT 11
COMPUTATION OF NET INCOME PER SHARE
(IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)
YEARS ENDED JUNE 30,
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1995 1994 1993
-------- -------- --------
Primary:
Average shares outstanding.......................... 39,146 39,720 39,444
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Income before cumulative effect of change in
accounting principle............................. $154,466 $121,880 $111,079
Cumulative effect of change in accounting
principle........................................ -- (10,063) --
-------- -------- --------
Net Income.......................................... $154,466 $111,817 $111,079
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Per share amounts:
Income before cumulative effect of change in
accounting principle........................... $3.95 $3.07 $2.82
Cumulative effect of change in accounting
principle...................................... -- (.25) --
-------- -------- --------
Total............................................ $3.95 $2.82 $2.82
======== ======== ========
Fully diluted:
Total primary average shares outstanding............ 39,146 39,720 39,444
Dilutive stock options and employee stock purchase
plan shares -- based on treasury stock method
using the greater of year-end market price or
average market price............................. 132 154 217
-------- -------- --------
Total fully diluted average shares outstanding...... 39,278 39,874 39,661
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Per share amounts:
Income before cumulative effect of change in
accounting principle........................... $3.93 $3.05 $2.80
Cumulative effect of change in accounting
principle...................................... -- (.25) --
-------- -------- --------
Total............................................ $3.93 $2.80 $2.80
======== ======== ========
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