EXHIBIT 11.1
COMPUTATION OF PER SHARE EARNINGS
YEAR ENDED
JUNE 30,
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1998 1997 1996
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(IN THOUSANDS, EXCEPT FOR PER SHARE DATA)
Net income $2,792 $3,100 $3,159
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Basic:
Weighted average number
of common stock shares
outstanding 10,525 7,054 4,442
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Basic earnings per share $ 0.27 $ 0.44 $0.71
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Diluted:
Weighted average number of common
stock shares outstanding 10,525 7,054 4,442
Weighted average number of
preferred stock shares
outstanding -- 1,478 2,336
Common stock equivalents from the
issuance of options using the
treasury stock method 544 632 757
Cheap stock adjustment -- 131 131
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Shares used in computing net
income per share 11,069 9,295 7,666
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Diluted earnings per share $0.25 $0.33 $0.41
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