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11. Statement re computation of per share earnings
First quarter ended First quarter ended
December 31, 1998 December 31, 1997
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Net income in thousands $ 3,783 $ 1,096
Weighted average shares outstanding 7,780,105 7,667,227
Assumed exercise of stock options,
weighted average of incremental shares 96,135 294,649
Assumed purchase of stock under stock
purchase plan, weighted average -- 32,706
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Diluted shares - adjusted weighted-average shares and
assumed conversions 7,876,240 7,994,582
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Basic earnings per share $ 0.49 $ 0.14
Diluted earnings per share $ 0.48 $ 0.14