Exhibit 11

Calculation of Basic Earnings Per Share

	Year Ended December 31						Six Months Ended December 31			Year Ended June 30
	2001			2000			2000			2000		1999
				(unaudited)
Net (loss) earnings	$	(2,980,000	)	$	(2,624,000	)	$	(6,302,000	)	$	9,788,000	$	22,733,000
Weighted average number of common shares outstanding	24,196,000			22,612,000			22,624,000			22,583,000		22,524,000
Basic (loss) earnings per share	$	(.12	)	$	(.12	)	$	(.28	)	$	.43	$	1.01

Calculation of Diluted Earnings Per Share

	Year Ended December 31						Six Months Ended December 31			Year Ended June 30
	2001			2000			2000			2000		1999
				(unaudited)
Net (loss) earnings	$	(2,980,000	)	$	(2,624,000	)	$	(6,302,000	)	$	9,788,000	$	22,733,000
Weighted average number of common shares outstanding	24,196,000			22,612,000			22,624,000			22,583,000		22,524,000
Dilutive effect of stock options outstanding after application of treasury stock method	0			0			0			41,000		208,000
Adjusted weighted average shares	24,196,000			22,612,000			22,624,000			22,624,000		22,732,000
Diluted (loss) earnings per share	$	(.12	)	$	(.12	)	$	(.28	)	$	.43	$	1.00