<PAGE>   1
11. Statement re computation of per
    share earnings

<TABLE>
<CAPTION>
                                                                 Year ended            Year ended            Year ended       
                                                             September 30, 1996    September 30, 1995    September 30, 1994(1)
                                                             ------------------    ------------------    ------------------
<S>                                                              <C>                   <C>                   <C>       
Primary EPS calculation:                                                                                               
                                                                                                                       
Shares outstanding at beginning of period                         7,227,972             7,104,876             7,067,890
                                                                                                                       
Net issuance of shares under stock award                                                                               
  plans, weighted average                                            76,823                22,768                19,764
                                                                                                                       
Net issuance of shares under stock                                                                                     
  purchase plan, weighted average                                    55,617                30,038                    --
                                                                 ----------            ----------            ----------
                                                                                                                       
Weighted average shares outstanding                               7,360,412             7,157,682             7,087,654
                                                                 ----------            ----------            ----------
                                                                                                                       
Assumed exercise of stock options,                                                                                     
  weighted average of incremental shares                            421,122               281,602                    --
                                                                                                                       
Assumed purchase of stock under stock                                                                                  
  purchase plan, weighted average                                    40,812                36,854                    --
                                                                 ----------            ----------            ----------
                                                                                                                       
Average shares and common share                                                                                        
  equivalents - primary EPS calculation                           7,822,346             7,476,138             7,087,654
                                                                 ==========            ==========            ==========
                                                                                                                       
Net income (loss) per share                                      $    (.70)            $      .66            $      .13
                                                                 ==========            ==========            ==========
                                                                                                                       
Net income (loss) in thousands                                     $(5,440)                $4,914                  $907
                                                                 ==========            ==========            ==========
                                                                                                                       
Fully diluted EPS calculation:                                                                                         
                                                                                                                       
Weighted average shares outstanding                               7,360,412             7,157,682             7,087,654
                                                                                                                       
Assumed exercise of stock options,                                                                                     
  weighted average of incremental shares                            421,122               508,496                    --
                                                                                                                       
Assumed purchase of stock under stock                                                                                  
  purchase plan, weighted average                                    40,812                53,598                    --
                                                                 ----------            ----------            ----------
                                                                                                                       
Average shares and common share                                                                                        
  equivalents - primary EPS calculation                           7,822,346             7,719,776             7,087,654
                                                                 ==========            ==========            ==========
                                                                                                                       
                                                                                                                       
Net income (loss) per share                                      $    (.70)            $      .64            $      .13
                                                                 ==========            ==========            ==========
                                                                                                                       
Net income (loss) in thousands                                     $(5,440)                $4,914                  $907
                                                                 ==========            ==========            ==========
</TABLE>

(1) The impact of common stock equivalents in 1994 was negligible.