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EXHIBIT 11
CALCULATION OF EARNINGS PER SHARE
MEDAR, INC. AND SUBSIDIARIES
Year Ended December 31
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1996 1995 1994
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(in thousands)
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Per common share and common share equivalents
Outstanding shares - beginning of period 8,712 7,976 6,609
Weighted average of:
Shares issued to acquire Integral Vision, Ltd. 654 654
Issuance of common stock 816(A)
Exercise of stock options 108 62 28
Net effect of dilutive stock options-based on
treasury stock method using average market
price 417
TOTAL 8,820 8,692 8,524
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Net earnings (loss) $(1,979) $(11,583) $3,688
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Net earnings (loss) per share $ (.22) $ (1.33) $ .43
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Per common share assuming full dilution:
Outstanding shares - beginning of period 8,712 7,976 6,609
Weighted average of:
Shares issued to acquire Integral Vision, Ltd. 654 654
Issuance of common stock 816(A)
Exercise of stock options 108 62 28
Net effect of dilutive stock options-based on
treasury stock method using year-end market
price if higher than average market price 430
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TOTAL 8,820 8,692 8,537
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Net earnings (loss) $(1,979) $(11,583) $3,688
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Net earnings (loss) per share $ (.22) $ (1.33) $ .43
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(A) Issuance of 1,300,000 shares to the public and 30,000 shares to acquire
technology