NORLAND MEDICAL SYSTEMS, INC. Exhibit 11 Statement Regarding Computation of Primary Earnings Per Share (Unaudited) Three Months Ended ------------------------------ June 30, 1996 June 30, 1995 ------------------------------- Primary and Fully-Diluted Basis: Net income $ 750,057 $ 475,666 Weighted average shares outstanding 6,838,320 3,000,000 Stock options 399,887 1,002,000 Weighted average number of common and common equivalent shares outstanding 7,263,912 4,002,000 Earnings per share $0.10 $0.12 Six Months Ended ------------------------------ June 30, 1996 June 30, 1995 ------------------------------ Net income $ 1,441,313 $ 913,977 Weighted average shares outstanding 6,582,532 3,000,000 Stock options 574,764 1,002,000 Weighted average number of common and common equivalent shares outstanding 7,157,296 4,002,000 Earnings per share $0.20 $0.23