<PAGE>
EXHIBIT 11
(Page 1 of 2)
CALCULATION OF BASIC EARNINGS PER SHARE
<TABLE>
<CAPTION>
Year Ended June 30
-------------------------------------------------------
1998 1999 2000
---- ---- ----
<S> <C> <C> <C>
Net earnings $22,610,000 $22,733,000 $9,788,000
========== ========== =========
Weighted average number of common shares
outstanding 22,376,000 22,524,000 22,583,000
========== ========== ==========
Basic earnings per share $1.01 $1.01 $.43
====== ===== ====
</TABLE>
23
<PAGE>
EXHIBIT 11
(Page 2 of 2)
CALCULATION OF DILUTED EARNINGS PER SHARE
<TABLE>
<CAPTION>
Year Ended June 30
---------------------------------------------------------
1998 1999 2000
---- ---- ----
<S> <C> <C> <C>
Net earnings $22,610,000 $22,733,000 $9,788,000
========== ========== =========
Weighted average number of
common shares outstanding 22,376,000 22,524,000 22,583,000
Dilutive effect of stock
options outstanding after
application of treasury
stock method 453,000 208,000 41,000
------- ------- ------
Adjusted Weighted Average Shares 22,829,000 22,732,000 22,624,000
========== ========== ==========
Diluted earnings per share $.99 $1.00 $.43
==== ===== ====
</TABLE>
24