EXHIBIT 11
NORSTAN, INC. AND SUBSIDIARIES
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STATEMENT REGARDING COMPUTATION OF EARNINGS PER SHARE
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(In thousands, except per share amounts)
Three Months Ended Nine Months Ended
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January 27, January 28, January 27, January 28,
1996 1995 1996 1995
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Primary earnings per share -
Weighted average number of
issued shares outstanding 4,261 4,127 4,234 4,089
Effect of:
1986 Long-Term Incentive Plan 200 191 208 211
Restated Non-Employee Directors'
Stock Option Plan 48 41 48 40
Employee Stock Purchase Plan 6 12 5 8
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Shares outstanding used to compute
primary earnings per share 4,515 4,371 4,495 4,348
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Net income $ 2,293 $ 1,871 $ 5,875 $ 4,942
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Primary earnings per share $ .51 $ .43 $ 1.31 $ 1.14
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Fully diluted earnings per share -
Weighted average number of shares
used for primary earnings per share 4,515 4,371 4,495 4,348
Effect of:
1986 Long-Term Incentive Plan - - 3 2
Restated Non-Employee Directors'
Stock Option Plan - - 1 1
Employee Stock Purchase Plan - - 1 1
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Shares outstanding used to compute
fully diluted earnings per share 4,515 4,371 4,500 4,352
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Net income $ 2,293 $ 1,871 $ 5,875 $ 4,942
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Fully diluted earnings per share $ .51 $ .43 $ 1.31 $ 1.14
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