EXHIBIT 11
TECHNE CORPORATION
CALCULATION OF BASIC EARNINGS PER SHARE
Fiscal Years Ended June 30,
2000 1999 1998
---- ---- ----
Net earnings $26,582,797 $16,656,010 $15,182,961
Weighted average number
of common shares 20,312,741 20,117,367 18,952,968
Net earnings per shares $ 1.31 $ 0.83 $ 0.80
CALCULATION OF DILUTED EARNINGS PER SHARE
Fiscal Years Ended June 30,
2000 1999 1998
---- ---- ----
Net earnings $26,582,797 $16,656,010 $15,182,961
Weighted average number of
common shares 20,312,741 20,117,367 18,952,968
Dilutive effect of stock
options and warrants 790,280 569,308 654,662
----------- ----------- -----------
Average common and dilutive
shares outstanding 21,103,021 20,686,675 19,607,630
Net earnings per shares $ 1.26 $ 0.81 $ 0.77