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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FEBRUARY 1, JANUARY 27, FEBRUARY 1, JANUARY 27,
1997 1996 1997 1996
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PRIMARY EARNINGS PER SHARE -
Weighted average number of
issued shares outstanding 9,277 8,522 9,070 8,468
Effect of:
1986 Long-Term Incentive Plan 134 400 229 416
1995 Long-Term Incentive Plan 40 - 23 -
Restated Non-Employee Directors'
Stock Plan 32 96 76 96
Employee Stock Purchase Plan 11 12 11 10
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Shares outstanding used to compute
primary earnings per share 9,494 9,030 9,409 8,990
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Net income $ 2,715 $ 2,293 $ 7,083 $ 5,875
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PRIMARY EARNINGS PER SHARE $ .29 $ .26 $ .75 $ .65
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FULLY DILUTED EARNINGS PER SHARE -
Weighted average number of shares
used for primary earnings per share 9,494 9,030 9,409 8,990
Effect of:
1986 Long-Term Incentive Plan - - 1 6
1995 Long-Term Incentive Plan - - 2 -
Restated Non-Employee Directors'
Stock Plan - - 1 2
Employee Stock Purchase Plan - - 1 2
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Shares outstanding used to compute
fully diluted earnings per share 9,494 9,030 9,414 9,000
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Net income $ 2,715 $ 2,293 $ 7,083 $ 5,875
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FULLY DILUTED EARNINGS PER SHARE $ .29 $ .26 $ .75 $ .65
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