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EXHIBIT 11.1
COMPUTATION OF PER SHARE EARNINGS
(Thousands except per share amounts)
Three Months Nine Months
Ended March 31, Ended March 31,
1997 1996 1997 1996
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PRIMARY
Average shares outstanding 14,159 10,259 12,843 10,212
Net effect of dilutive stock options -
based on the treasury stock method
using average market price 991 588 1,007 227
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TOTAL 15,150 10,847 13,850 10,439
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Net income 4,337 1,759 11,192 3,809
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Per share amount $ 0.29 $ 0.16 $ 0.81 $ 0.36
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FULLY DILUTED
Average shares outstanding 14,159 10,259 12,843 10,212
Net effect of dilutive stock options -
based on the treasury stock method
using the quarter-end market price,
if higher than the average market price 991 588 1,007 567
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TOTAL 15,150 10,847 13,850 10,779
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Net income 4,337 1,759 11,192 3,809
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Per share amount $ 0.29 $ 0.16 $ 0.81 $ 0.35
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