EXHIBIT 11

Exhibit 11  Statement  re  Computation  of Basic and Diluted Net Income per
            Common Share

     Basic and diluted net income per common share is calculated as follows:

<TABLE>
<CAPTION>
Three months ended June 30, 1997:                                             Number of              Weighted
                                                                  Date           shares               Average
                                                       --------------------------------------------------------
<S>                                                             <C>           <C>                  <C>
Shares outstanding 4/1/97 (1)                                   4/1/97        14,417,116           14,417,116
                                                       --------------------------------------------------------

          Weighted average shares outstanding for the period                                       14,417,116

                 Net income for the period (thousands)                                    $             5,781
                                                                                             ==================

  Basic and diluted net income per common share (2)                                       $               .40
                                                                                             ==================

Three months ended June 30, 1998:                                             Number of              Weighted
                                                                  Date           shares               Average
                                                       --------------------------------------------------------
Shares outstanding 4/1/98                                        4/1/98       17,593,366           17,593,366
                                                       --------------------------------------------------------

          Weighted average shares outstanding for the period                                       17,593,366

                 Net income for the period (thousands)                                    $             5,164
                                                                                             ==================

  Basic and diluted net income per common share (2)                                       $               .29
                                                                                             ==================

Six months ended June 30, 1997:                                               Number of              Weighted
                                                                  Date           shares               Average
                                                       --------------------------------------------------------
Shares outstanding 1/1/97 (1)                                   1/1/97        14,417,116           14,417,116
                                                       --------------------------------------------------------

          Weighted average shares outstanding for the period                                       14,417,116

                 Net income for the period (thousands)                                    $             9,780
                                                                                             ==================

  Basic and diluted net income per common share (2)                                       $               .68
                                                                                             ==================

Six months ended June 30, 1998:                                               Number of              Weighted
                                                                  Date           shares               Average
                                                       --------------------------------------------------------
Shares outstanding 1/1/98                                       1/1/98        17,593,366           17,593,366
                                                       --------------------------------------------------------

          Weighted average shares outstanding for the period                                       17,593,366

                 Net income for the period (thousands)                                    $            11,028
                                                                                             ==================

 Basic and diluted net income per common share (2)                                       $               .63
                                                                                             ==================

     (1)Assuming  5,193,693 shares issued in conjunction with the  consolidation
transaction  described  in Note 4 to the  condensed  combined  and  consolidated
financial statements had been outstanding for all periods presented.

     (2)There are no dilutive  securities  outstanding for the periods presented
resulting in basic and diluted earnings per share being equal.

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