Exhibit 11 THERMEDICS INC. Computation of Earnings per Share 1996 1995 1994 ----------- ----------- ----------- Computation of Primary Earnings per Share: Net Income (a) $26,831,000 $15,121,000 $10,837,000 ----------- ----------- ----------- Shares: Weighted average shares outstanding 36,417,486 33,659,709 32,877,578 Add: Shares issuable from assumed conversion of subordinated convertible debentures 1,223,990 - - Shares issuable from assumed exercise of options (as determined by the application of the treasury stock method) 438,401 - - ----------- ----------- ----------- Weighted average shares outstanding, as adjusted (b) 38,079,877 33,659,709 32,877,578 ----------- ----------- ----------- Primary Earnings per Share (a) / (b) $ .70 $ .45 $ .33 =========== =========== ===========