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11. Statement re computation of per share earnings
First quarter First quarter
ended ended
December 31, 1997 December 31, 1996
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Net income (loss) in thousands $ 1,096 $ (838)
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Shares outstanding at beginning of period 7,664,253 7,450,878
Net issuance of shares under stock award
plans, weighted average 2,974 21,698
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Weighted average shares outstanding - basic earnings
per share calculation 7,667,227 7,472,576
Effect of dilutive securities:
Assumed exercise of stock options,
weighted average of incremental shares 294,649 --
Assumed purchase of stock under stock
purchase plan, weighted average 32,706 --
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Average shares and common share
equivalents - diluted earnings per share calculation
7,994,582 7,472,576
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Basic earning (loss) per share $ .14 $ (.11)
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Diluted earnings (loss) per share $ .14 $ (.11)
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