EXHIBIT 11
STATEMENT RE COMPUTATION OF NET INCOME PER SHARE
(in thousands, except per share data)
Three Months Ended
Years Ended September 30, December 31,
1995 1996 1997 1996 1997
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Historical net income 6,859 11,619 8,589 3,698 2,593
Shares used in computing net
income per share:
Shares used in computing basic
net income per share
(Weighted average shares
outstanding for period) 11,312 11,371 12,306 11,453 14,791
Three Months
Year Ended December 31,
1997 1996 1997
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Effect of options granted
in January 1997:
Options granted 401 401 401
Options price $ 1.46 $ 1.46 $ 1.46
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Assumed proceeds $ 585 $ 585 $ 585
Average market price $23.02 $16.00 $26.57
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Shares assumed repurchased 25 37 22
Shares deemed outstanding 376 364 379 0 0 376 364 379
Effect of options granted
in June 1997:
Options granted 31 31 31
Options price $16.00 $16.00 $16.00
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Assumed proceeds $ 496 $ 496 $ 496
Average market price $23.02 $16.00 $26.57
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Shares assumed outstanding 22 31 19
Shares deemed outstanding 9 0 12 0 0 9 0 12
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Shares used in computing
diluted net income per share: 11,312 11,371 12,691 11,817 15,182
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Net income per share - basic: $0.61 $1.02 $0.70 $0.32 $0.18
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Net income per share - diluted: $0.61 $1.02 $0.88 $0.31 $0.17
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