EXHIBIT 11.1 STATEMENTS RE COMPUTATION OF EARNINGS PER SHARE
YEARS ENDED DECEMBER 31, ------------------------------- 1996 1995 1994 --------- --------- --------- (IN THOUSANDS) Primary Earnings Per Share Net earnings..................................................................... 7,462 7,502 7,134 --------- --------- --------- --------- --------- --------- Shares Weighted average number of common shares outstanding............................. 26,498 23,723 23,199 Add-dilutive effect of options and warrants...................................... 1,170 703 884 --------- --------- --------- Weighted average number of common and common equivalent shares outstanding....... 27,668 24,426 24,083 --------- --------- --------- --------- --------- --------- Net earnings per common share.................................................... 0.27 0.31 0.30 --------- --------- --------- --------- --------- --------- Fully Dilutive Earnings Per Share Net Earnings..................................................................... 7,462 7,502 7,134 --------- --------- --------- --------- --------- --------- Shares Weighted average number of common shares outstanding............................. 26,498 23,723 23,199 Add-dilutive effect of options and warrants...................................... 1,457 771 888 --------- --------- --------- Weighted average number of common and common equivalent shares outstanding....... 27,955 24,494 24,807 --------- --------- --------- --------- --------- --------- Net earnings per common share...................................................... 0.27 0.31 0.30 --------- --------- --------- --------- --------- ---------