Exhibit 11
                                                                    ----------

                    COMPUTER NETWORK TECHNOLOGY CORPORATION

        Statement Re:  Computation of Net Income (Loss) Per Common and 
                            Common Equivalent Share

                 (Not Covered by Independent Auditors' Report)




                                                          Years Ended December 31
                                                 ------------------------------------------
                                                                             
                                                  1995/(1)/       1994/(1)/       1993/(1)/
                                                 ----------     ------------     ----------
                                                                        
Net Income (loss)                                $4,022,448     $(4,714,385)     $5,001,381
                                                 ==========     ============     ==========

Primary Earnings (Loss) Per Share                                            
- ---------------------------------                                            
Weighted average number of common shares                                     
  outstanding                                    22,674,707      21,971,983      18,333,822

Dilutive effect of outstanding common                                        
  equivalent shares                                 768,430               -         894,226   
                                                 ----------     ------------     ----------

Weighted average number of common and                                        
  common equivalent shares outstanding           23,443,137      21,971,983      19,228,048
                                                 ==========     ============     ==========

Net income (loss) per common and common                                      
  equivalent share                                     $.17           $(.21)           $.26
                                                 ==========     ============     ==========

Fully Diluted Earnings (Loss) Per Share:                                     
- ----------------------------------------                                     
Weighted average number of common shares                                     
  outstanding                                    22,674,707      21,971,983      18,333,822

Dilutive effect of outstanding common                                        
  equivalent shares                                 828,658               -         995,764
                                                 ----------     ------------     ----------

Weighted average number of common and                                        
  common equivalent shares outstanding           23,503,365      21,971,983      19,329,586
                                                 ==========     ============     ==========

Net income (loss) per common and common                                      
  equivalent share                                     $.17           $(.21)           $.26
                                                 ==========     ============     ==========
 
 
 
(1)  For the years ended December 31, 1995 and 1993, outstanding stock options
     and warrants issuable under various stock option plans and warrant 
     agreements, and common shares issuable under the employee stock purchase
     plan (as disclosed in the notes to the consolidated financial statements
     incorporated by reference in this Form 10-K) are converted to common
     equivalent shares by the treasury stock method. For the year ended December
     31, 1994, such stock options, warrants, and shares issuable under the
     employee stock purchase plan are not included in the computation due to
     their anti-dilutive nature.