EXHIBIT 11. STATEMENT REGARDING COMPUTATION OF PER SHARE EARNINGS Fiscal Year Ended June 30, 1996 1995 -------- --------- Primary Earnings Per Share: - --------------------------- Average number of shares outstanding 14,366,000 14,384,000 Net effect of common stock equivalents 198,000 239,000 ---------- ---------- Average number of shares-primary 14,564,000 14,623,000 Net income available to common shareholders before extraordinary charge and cumulative effect of accounting change $28,145,000 $22,732,000 Extraordinary charge - (2,073,000) Cumulative effect of accounting change - 1,467,000 ----------- ---------- Net income $28,145,000 $22,126,000 ========== ========== Per Share Data: - -------------- Net income per common shares, excluding extraordinary charge and cumulative effect of accounting change $1.93 $1.56 Extraordinary charge - (0.14) Cumulative effect of accounting change - 0.10 ----------- --------- Net income per common share $1.93 $1.52 =========== ========= Earnings Per Common Share: - ------------------------- Earnings per common share are computed by dividing net earnings by the weighted average number of shares of common stock equivalents outstanding during each period. The Company has issued stock options and warrants which are the Company's only common stock equivalents. Fully Diluted Earnings Per Share: - -------------------------------- Fully diluted earnings per share is within 3% of primary earnings per share for all periods presented.