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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November 2, October 28, November 2, October 28,
1996 1995 1996 1995
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Primary earnings per share -
Weighted average number of
issued shares outstanding 9,122 8,444 8,968 8,441
Effect of:
1986 Long-Term Incentive Plan 171 436 276 423
1995 Long-Term Incentive Plan 30 - 15 -
Restated Non-Employee
Directors' Stock Plan 82 98 98 96
Employee Stock Purchase Plan 11 12 12 9
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Shares outstanding used to
compute primary earnings per
share 9,416 8,990 9,369 8,969
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Net income $ 2,676 $ 2,148 $ 4,368 $ 3,581
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Primary earnings per share $ .28 $ .24 $ .47 $ .40
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Fully diluted earnings per
share -
Weighted average number
of shares used for primary
earnings per share 9,416 8,990 9,369 8,969
Effect of:
1986 Long-Term Incentive Plan 4 - 2 9
1995 Long-Term Incentive Plan 5 - 3 -
Restated Non-Employee
Directors' Stock Plan 1 - - 1
Employee Stock Purchase Plan 2 - - 2
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Shares outstanding used to
compute fully diluted earnings
per share 9,428 8,990 9,374 8,981
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Net income $ 2,676 $ 2,148 $ 4,368 $ 3,581
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Fully diluted earnings per
share $ .28 $ .24 $ .47 $ .40
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