Exhibit 11
STATEMENT RE COMPUTATION OF PER-SHARE EARNINGS
(AMOUNTS IN THOUSANDS, EXCEPT SHARES AND PER SHARE DATA)
<TABLE>
<CAPTION>
Years Ended March 31
--------------------------------------
2000 1999 1998
--------- --------- ---------
<S> <C> <C> <C>
Basic and Diluted
Average common shares outstanding........... 4,836,823 4,417,711 3,243,192
Net effect of dilutive stock options - based
on the treasury method using average market
price....................................... -- -- --
--------- --------- ---------
Total....................................... 4,836,823 4,417,711 3,243,192
========= ========= =========
(Loss) income from continuing operations $ (8,203) $ (5,376) $ (476)
Preferred stock dividends.................. (13) (87) (162)
--------- --------- ---------
(Loss) income applicable to common
stockholders................................ ($ 8,216) (5,463) (638)
======== ========= =========
</TABLE>
