EXHIBIT 11

Earnings per share computations (unaudited)
(In 000's except share data)
<TABLE>
<CAPTION>
                                                               Restated
                                                         Three Months ended
                                                         September 30, 1997
                                               Income (Loss)   Shares    Per share
                                               (Numerator)  (Denominator)  Amounts
<S>                                             <C>            <C>         <C>
Net loss before extraordinary item              $(18,876)
Less: Special stock dividends and redemption
      premium on series B Special Stock          (18,953)

Basic EPS
Net loss before extraordinary item              $(37,829)      31,853      $(1.19)
Extraordinary loss                               (42,033)      31,853       (1.32)
Net loss applicable to common shares            $(79,862)      31,853      $(2.51)

Effect of Dilutive Securities (a)
Stock options                                                    --
Warrants                                                         --
Convertible preferred stock dividends                            -- 
                                                --------      ------       

Dilutive EPS
Net loss applicable to common shares
   with assumed conversions                     $(79,862)      31,853      $(2.51)
                                                ========       ======      ======
</TABLE>


                                                      Three Months ended
                                                       September 30, 1998
                                               Income        Shares   Per share
                                            (Numerator)  (Denominator)  Amounts
Basic EPS
Net loss applicable to common shares          $(2,682)      32,982      $(0.08)
                                                                        ======

Effect of Dilutive Securities (a)
Stock options                                                  --
Warrants                                                       --
Convertible preferred stock dividends                          --            
                                              ------       ------           

Dilutive EPS
Net loss applicable to Common Shares
    with assumed conversions                  $(2,682)      32,982      $(0.08)
                                              =======       ======      ======





cont.

 (a) The following  securities  were  in-the-money as of the period end but were
   not included in the  computation of diluted  earnings per share because to do
   so would have been antidilutive for the periods presented:

                                   For the three months ended
                                   September 30,September 30,
                                         1998      1997
                                            (in 000s)
       Stock options                       38     3,930
       Warrants                             -     2,000
                                          ---     -----
                                           38     5,930

       Adjusted for application
          of the treasury stock method    38      1,450
                                         ===      =====

Under the treasury  stock method,  the assumed net proceeds from the exercise of
   the weighted average number of common stock  equivalents  outstanding  during
   the period are assumed to be used to  repurchase  common stock at its average
   market price during the period.  Such  repurchase of common stock reduces the
   dilutive effect of the common stock equivalents.