EXHIBIT 11
NORSTAN, INC. AND SUBSIDIARIES
STATEMENT REGARDING COMPUTATION OF EARNINGS PER SHARE
(In Thousands, Except Per Share Amounts)
Three Months Ended Nine Months Ended
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January 28, January 29, January 28, January 29,
1995 1994 1995 1994
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Primary earnings per share -
Weighted average number of
issued shares outstanding 4,127 4,006 4,089 3,988
Effect of:
1986 Long-Term Incentive Plan 191 214 211 199
1986 Directors' Stock Option Plan 41 38 40 35
Employee Stock Purchase Plan 12 10 8 6
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Shares outstanding used to compute
primary earnings per share 4,371 4,268 4,348 4,228
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Net income $1,871 $1,608 $4,942 $3,794
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Primary earnings per share$ .43 $ .38 $ 1.14 $ .90
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Fully diluted earnings per share -
Weighted average number of
shares used for primary
earnings per share 4,371 4,268 4,348 4,228
Effect of:
1986 Long-Term Incentive Plan - 7 2 8
1986 Directors' Stock Option Plan - 2 1 2
Employee Stock Purchase Plan - 2 1 3
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Shares outstanding used to compute
fully diluted earnings per share 4,371 4,279 4,352 4,241
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Net income $1,871 $1,608 $4,942 $3,794
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Fully diluted earnings per share $ .43 $ .38 $ 1.14 $ .89
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