Exhibit 11
LUNAR CORPORATION AND SUBSIDIARIES
Statement Regarding Computation of Earnings Per Share
(Unaudited)
Three months ended Six months ended
December 31,December 31, December 31,December 31,
1996 1995 1996 1995
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Net income $4,545,488 $2,243,788 $7,446,450 $3,571,530
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Weighted average shares outstanding
8,555,430 8,093,978 8,534,661 8,046,246
Stock options calculated according
to the treasury stock method
520,886 747,306 539,120 736,788
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Weighted average number of common
and common-equivalent shares
outstanding 9,076,316 8,841,284 9,073,781 8,783,034
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Net income per common and
common-equivalent shares $0.50 $0.25 $0.82 $0.41
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