EXHIBIT 11
EXHIBIT 11
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Year Ended December 31
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1997 1996 1995
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Shares used in computing basic net income per common share:
Shares outstanding at beginning of period 7,857 5,606 4,609
Weighted impact of common shares issued
during the period 64 1,315 481
Weighted impact of common shares repurchased
during the period -- (8) (5)
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Total shares used in computing basic net income per
common share 7,921 6,913 5,085
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Net income $ 3,513 $ 3,004 $ 1,850
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Basic net income per common share $ .44 $ .43 $ .36
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Shares used in computing diluted net income per common share:
Shares outstanding, beginning of period 7,857 5,606 4,609
Stock options issued prior to April 17, 1996 presented
as if outstanding for all periods -- 129 310
Warrants issued prior to April 17, 1996 presented
as if outstanding for all periods -- 142 340
Net incremental shares resulting from assumed exercise of
of stock options and warrants using the treasury stock 960 907 446
method
Weighted impact of common shares issued
during the period 64 1,315 481
Weighted impact of common shares repurchased
during the period -- (8) (5)
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Total shares used in computing diluted net income per
common share 8,881 8,091 6,181
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Net income $ 3,513 $ 3,004 $ 1,850
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Diluted net income per common share $ .40 $ .37 $ .30
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