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                                                                    Exhibit 11.1

Statement Re: Computation of Per Share Earnings (Loss)

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<CAPTION>
                                                                           Year Ended March 31                          
                                                                1997               1996              1995               
                                                             ----------         ----------        ----------            
                                                                   (in thousands, except per share data)

<S>                                                          <C>                <C>               <C>                   
Weighted average shares outstanding                               7,283             3,230             1,224             
                                                                                                                        
Net dilutive effect of stock options-based on                                                                           
   the treasury stock method using average                                                                              
   market price in 1996 and IPO price in 1995                       -                 512               504             
                                                                                                                        
 Effect of convertible preferred stock-assumed                                                                          
    converted at date of issuance                                   -               2,820             3,828             
                                                                                                                        
 Effect of common and common equivalent shares                                                                          
   issued by the Company during the twelve month                                                                        
   period immediately preceding the Company's initial                                                                   
   public offering (using the treasury stock method)                -                 -                 448             
                                                             -----------------------------------------------            
                                                                                                                        
Totals                                                            7,283             6,562             6,004             
                                                             ===========      ============      ============            
                                                                                                                        
Net income (loss)                                             $  (3,722)       $      628        $      526             
                                                             ===========      ============      ============            
                                                                                                                        
Per share amount                                              $   (0.51)       $     0.10        $     0.09             
                                                             ===========      ============      ============            
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