Exhibit 11 Norland Medical Systems, Inc. Statement Regarding Computation of Earnings Per Share (Unaudited) Three Months Ended --------------------------------------- March 31, 1996 March 31, 1995 -------------- -------------- Primary Basis: Net income $ 691,256 $ 438,312 Weighted average shares outstanding 4,230,192 2,000,000 Stock options 474,481 668,000 Weighted average number of common and common equivalent shares outstanding 4,704,673 2,668,000 Earnings per share $ 0.15 $ 0.16 Fully Diluted Basis: Net income $ 691,256 $ 438,312 Weighted average shares outstanding 4,230,192 2,000,000 Stock options 484,048 668,000 Weighted average number of common and common equivalent shares outstanding 4,714,240 2,668,000 Earnings per share $ 0.15 $ 0.16 - 14 -