EXHIBIT 11
NORSTAN, INC. AND SUBSIDIARIES
STATEMENT REGARDING COMPUTATION OF EARNINGS PER SHARE
(In thousands, except per share amounts)
Three Months Ended Six Months Ended
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October 28, October 29, October 28, October 29,
1995 1994 1995 1994
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Primary earnings per share
Weighted average number of
issued shares outstanding 4,222 4,071 4,220 4,071
Effect of:
1986 Long-Term Incentive Plan 218 227 212 220
Restated Non-Employee Directors'
Stock Option Plan 49 42 48 40
Employee Stock Purchase Plan 6 6 5 6
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Shares outstanding used to compute
primary earnings per share 4,495 4,346 4,485 4,337
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Net income $ 2,148 $ 1,869 $ 3,581 $ 3,072
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Primary earnings per share $ .48 $ .43 $ .80 $ .71
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Fully diluted earnings per share -
Weighted average number of shares
used for primary earnings per share 4,495 4,346 4,485 4,337
Effect of:
1986 Long-Term Incentive Plan --- 5 5 3
Restated Non-Employee Directors'
Stock Option Plan --- 1 1 1
Employee Stock Purchase Plan --- 2 1 1
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Shares outstanding used to compute
fully diluted earnings per share 4,495 4,354 4,492 4,342
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Net income $ 2,148 $ 1,869 $ 3,581 $ 3,072
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Fully diluted earnings per share $ .48 $ .43 $ .80 $ .71
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