EXHIBIT 11.1 CALCULATION OF EARNING PER SHARE In the calculation of earning per share for the years ended December 31, 1997, 1996 and 1995, weighted shares outstanding have been computed as follows: FOR THE YEAR ENDED DECEMBER 31, ---------------------------------- 1997 1996 1995 --------- ---------- --------- Weighted average shares outstanding - Shares outstanding from beginning of period 6,639,587 5,548,402 4,212,499 Sale of 40,044, 34,062 and 19,007 shares of common stock through Employee Stock Purchase plans, respectively 30,588 26,483 -- Acquisition of LOR/GB with issuance of 578,651 shares on Common Stock on February 13, 1996 -- 509,086 -- Issuance of 1,300,000 shares of Common Stock for initial public offering on March 20, 1995 -- -- 1,015,068 Weighted options outstanding (1) -- -- 621,175 Stock Options exercised during the period 73,824 144,003 213,544 --------- ---------- --------- Weighted Average Common and Common equivalent shares outstanding 6,743,999 6,527,974 6,062,288 (1) Excludes anti-dilutive common share equivalents in the weighted average shares outstanding calculation for 1997 and 1996.