1 Exhibit 11 TECNOL MEDICAL PRODUCTS, INC. COMPUTATION OF EARNINGS PER SHARE The following table reconciles the number of common shares outstanding with the number of common and common equivalent shares used in computing earnings per share: December 2, December 2, November 30, PRIMARY EARNINGS PER SHARE 1994 1995 1996 - -------------------------- ---------- ---------- ----------- Common shares outstanding at year-end 19,863,337 19,933,969 19,957,491 Effect of using weighted average common and common equivalent shares outstanding during the period (37,854) (28,792) (8,737) Effect of unearned employee stock ownership plan shares (135,000) (105,000) (75,000) Effect of assuming exercise of outstanding stock options based on the treasury stock method 251,534 322,897 218,080 ---------- ---------- ---------- Shares used in computing primary earnings per share 19,942,017 20,123,074 20,091,834 ========== ========== ========== December 2, December 2, November 30, FULLY DILUTED EARNINGS PER SHARE 1994 1995 1996 - -------------------------------- ---------- ---------- ----------- Common shares outstanding at year-end 19,863,337 19,933,969 19,957,491 Effect of using weighted average common and common equivalent shares outstanding during the period - - - Effect of unearned employee stock ownership plan shares (135,000) (105,000) (75,000) Effect of assuming exercise of outstanding stock options based on the treasury stock method 328,740 327,458 219,634 ---------- ---------- ---------- Shares used in computing primary earnings per share 20,057,077 20,156,427 20,102,125 ========== ========== ==========