<TABLE>
<CAPTION>


                                                     Exhibit 11(a)

                                       Computation of Primary Earnings Per Share

                                                               Three Months Ended
                                                      September 30,               July 31,
                                                           1995                     1994
                                                      --------------            ---------
                                                                     (Unaudited)

<S>                                                  <C>                   <C>            
    Net (loss) income                                $     (7,778,000)     $     6,635,000

    Adjustment

    Adjusted net (loss) income                       $     (7,778,000)     $     6,635,000
                                                     =     ==========      =     =========

    Average common shares
       outstanding (1)                                     28,222,000           27,225,000

    Assumed equivalent shares from
       stock options converted to
       common shares (2)                                                         1,543,000
                                                                                 ---------

Total weighted average number
    of common and common
    equivalent shares                                      28,222,000           28,768,000
                                                           ==========           ==========


Earnings per share
    (Loss) income before cumulative effect of
    accounting change                                     $ (.28)               $  .23
    Cumulative effect of accounting change
    Net (loss) income per common share                    $ (.28)               $  .23
                                                          = ====                = ====
</TABLE>


(1)   Average shares  outstanding  for the three months ended September 30, 1995
      does not  assume the  exercise  of options  since an  increase  in average
      shares outstanding would be dilutive to net loss per share.

(2)   Earnings  per share are  computed  using the  weighted  average  number of
      shares of common stock and common stock equivalents (common stock issuable
      upon exercise of stock  options)  outstanding.  In computing  earnings per
      share, the Company utilizes the treasury stock method. This method assumes
      that stock options,  under certain conditions,  are exercised and treasury
      shares are assumed to be  purchased  from the  proceeds  using the average
      market price of the Company's common stock for the period.


<PAGE>

<TABLE>
<CAPTION>

                                                   Exhibit 11(a)

                                       Computation of Primary Earnings Per Share

                                                                 Nine Months Ended
                                                      September 30,               July 31,
                                                           1995                  1994
                                                      --------------            ---------
                                                                     (Unaudited)

<S>                                                  <C>                        <C>        
    Net (loss) income                                $    (54,147,000)     $    18,883,000

    Adjustment

    Adjusted net (loss) income                       $    (54,147,000)     $    18,883,000
                                                     =    ===========      =    ==========

    Average common shares
       outstanding (1)                                     28,675,000           25,461,000

    Assumed equivalent shares from
       stock options converted to
       common shares (2)                                                         2,845,000
                                                                                 ---------

Total weighted average number
    of common and common
    equivalent shares                                      28,675,000           28,306,000
                                                           ==========           ==========


Earnings per share
    Income (loss) before cumulative effect of
    accounting change                                     $   (1.89)            $  .60
    Cumulative effect of accounting change                                         .07
                                                                                   ---
    Net (loss) income per common share                    $   (1.89)            $  .67
                                                          =   =====             = ====

</TABLE>

(1)   Average shares  outstanding  for the nine months ended  September 30, 1995
      does not  assume the  exercise  of options  since an  increase  in average
      shares outstanding would be dilutive to net loss per share.

(2)   Earnings  per share are  computed  using the  weighted  average  number of
      shares of common stock and common stock equivalents (common stock issuable
      upon exercise of stock  options)  outstanding.  In computing  earnings per
      share, the Company utilizes the treasury stock method. This method assumes
      that stock options,  under certain conditions,  are exercised and treasury
      shares are assumed to be  purchased  from the  proceeds  using the average
      market price of the Company's common stock for the period.


<PAGE>

<TABLE>
<CAPTION>

                                                     Exhibit 11(b)

                                    Computation of Fully Diluted Earnings Per Share


                                                                Three Months Ended
                                                      September 30,               July 31,
                                                           1995                     1994
                                                     --------------              ---------
                                                                     (Unaudited)

<S>                                                  <C>                   <C>            
    Net (loss) income                                $     (7,778,000)     $     6,635,000

    Adjustment

    Adjusted net (loss) income                       $     (7,778,000)     $     6,635,000
                                                     =     ==========      =     =========

    Average common shares
       outstanding (1)                                     28,222,000           27,225,000

    Assumed equivalent shares from
       stock options converted to
       common shares (2)                                                         1,406,000
                                                            ---------           ---------

Total weighted average number
    of common and common
    equivalent shares                                      28,222,000           28,631,000
                                                           ==========           ==========


Earnings per share
    (Loss) income before cumulative effect of
    accounting change                                     $ (.28)               $  .23
    Cumulative effect of accounting change
    Net (loss) income per common share(3)                 $ (.28)               $  .23
                                                          = ====                = ====
</TABLE>

(1)   Average shares  outstanding  for the three months ended September 30, 1995
      does not  assume the  exercise  of options  since an  increase  in average
      shares outstanding would be dilutive to net loss per share.

(2)   Earnings per share are computed  consistent  with  footnote (2) on Exhibit
      11(a) -  Computation  of Primary  Earnings  Per Share  except in computing
      fully  diluted  earnings  per share,  the  treasury  stock method uses the
      market  price of the  Company's  common  stock at the close of the  period
      rather than the average market price during the period.

(3)   This  calculation  is submitted in  accordance  with  Regulation  S-K Item
      601(b)(11)  although  not  required by footnote 2 to  paragraph  14 of APB
      Opinion No. 15 because it results in dilution of less than 3%.



<PAGE>

<TABLE>
<CAPTION>

                                                     Exhibit 11(b)

                                    Computation of Fully Diluted Earnings Per Share


                                                                 Nine Months Ended
                                                      September 30,               July 31,
                                                          1995                        1994
                                                      ------------              ---------
                                                                     (Unaudited)

<S>                                                  <C>                   <C>            
    Net (loss) income                                $    (54,147,000)     $    18,883,000

    Adjustment

    Adjusted net (loss) income                       $    (54,147,000)     $    18,883,000
                                                     =    ===========      =    ==========

    Average common shares
       outstanding (1)                                     28,675,000           25,461,000

    Assumed equivalent shares from
       stock options converted to
       common shares (2)                                                         2,636,000
                                                            ---------            ---------

Total weighted average number
    of common and common
    equivalent shares                                      28,675,000           28,097,000
                                                           ==========           ==========


Earnings per share
    (Loss) income before cumulative effect of
    accounting change                                     $   (1.89)            $  .60
    Cumulative effect of accounting change                                         .07
                                                                                   ---
    Net (loss) income per common share(3)                 $   (1.89)            $  .67
                                                          =   =====             = ====
</TABLE>

(1)   Average shares  outstanding  for the nine months ended  September 30, 1995
      does not  assume the  exercise  of options  since an  increase  in average
      shares outstanding would be dilutive to net loss per share.

(2)   Earnings per share are computed  consistent  with  footnote (2) on Exhibit
      11(a) -  Computation  of Primary  Earnings  Per Share  except in computing
      fully  diluted  earnings  per share,  the  treasury  stock method uses the
      market  price of the  Company's  common  stock at the close of the  period
      rather than the average market price during the period.

(3)   This  calculation  is submitted in  accordance  with  Regulation  S-K Item
      601(b)(11)  although  not  required by footnote 2 to  paragraph  14 of APB
      Opinion No. 15 because it results in dilution of less than 3%.