EXHIBIT 11 STATEMENT RE: COMPUTATION OF EARNINGS PER SHARE NATIONAL COMPUTER SYSTEMS, INC. YEAR ENDED JANUARY 31, ---------------------------------------------- 1996 1995 1994 1993 1992 ====== ====== ====== ====== ====== (In Thousands, Except Per Share Amounts) PRIMARY Average shares outstanding 15,472 15,164 15,438 15,915 16,002 Dilutive stock options -- based on the treasury stock method using average market price 213 61 97 151 136 ------- ------- ------- ------- ------- TOTAL 15,685 15,225 15,535 16,066 16,138 ======= ======= ======= ======= ======= Net income (loss) $22,259 $13,398 $(2,509) $16,508 $15,474 ======= ======= ======= ======= ======= Net income (loss) per share $ 1.42 $ 0.88 $ (0.16) $ 1.03 $ 0.96 ======= ======= ======= ======= ======= FULLY DILUTED Average shares outstanding 15,472 15,164 15,438 15,915 16,002 Dilutive stock options -- based on the treasury stock method using the higher of year-end market price or average market price 262 148 99 164 199 Assumed conversion of convertible subordinated debenture -- -- -- -- 361 ------- ------- ------- ------- ------- TOTAL 15,734 15,312 15,537 16,079 16,562 ======= ======= ======= ======= ======= Net income (loss) $22,259 $13,398 $(2,509) $16,508 $15,474 Add interest on convertible subordinated debenture, net of the income tax effect -- -- -- -- 363 ======= ======= ======= ======= ======= $22,259 $13,398 $(2,509) $16,508 $15,837 ======= ======= ======= ======= ======= Net income (loss) per share $ 1.42 $ 0.88 $ (0.16) $ 1.03 $ 0.96 ======= ======= ======= ======= =======