EXHIBIT 11.1
STATEMENTS RE COMPUTATION
OF EARNINGS PER SHARE
YEARS ENDED DECEMBER 31,
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1996 1995 1994
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(IN THOUSANDS)
Primary Earnings Per Share
Net earnings..................................................................... 7,462 7,502 7,134
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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
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Weighted average number of common and common equivalent shares outstanding....... 27,668 24,426 24,083
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Net earnings per common share.................................................... 0.27 0.31 0.30
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Fully Dilutive Earnings Per Share
Net Earnings..................................................................... 7,462 7,502 7,134
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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
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Weighted average number of common and common equivalent shares outstanding....... 27,955 24,494 24,807
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Net earnings per common share...................................................... 0.27 0.31 0.30
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