EXHIBIT 11 PATTERSON DENTAL COMPANY COMPUTATION OF EARNINGS PER SHARE (IN THOUSANDS, EXCEPT PER SHARE AMOUNTS) APRIL 27, APRIL 29, APRIL 30, 1996 1995 1994 --------- --------- --------- Earnings per share: Average shares outstanding 17,669 17,612 17,607 Net effect of assumed conversion of Patterson Preferred based on the if-converted method (1) 3,843 3,854 3,857 Net effect of dilutive stock options - based on the treasury stock method using average market price (2) 27 22 21 -------- -------- -------- Total 21,539 21,488 21,485 ======== ======== ======== Net income available for common shareholders (3) $28,125 $23,572 $18,685 ======== ======== ======== Net earnings $ 1.31 $ 1.10 $ 0.87 ======== ======== ======== (1) Assumes conversion of Patterson Preferred to Common at the ratio of 1 to 1.08. (2) Additional dilution using higher of average or ending market price is not material. Therefore, additional fully diluted presentation is not required. (3) Assumes the dividend eliminated upon conversion of preferred stock is offset by incremental ESOP compensation cost. 40