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EXHIBIT 11
NATIONAL DENTEX CORPORATION
COMPUTATION OF NET INCOME PER SHARE
Three months ended Six months ended
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June 30, 1996 June 30, 1997 June 30, 199 June 30, 1997
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COMPUTATION OF PRIMARY NET INCOME PER SHARE:
Net Income applicable to common stock $1,179,722 $1,348,690 $2,006,534 $2,305,132
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Shares:
Weighted average common shares outstanding 3,435,763 3,457,549 3,388,441 3,449,364
Add: Shares issuable from assumed exercise
of options and warrants (as determined by the
application of the treasury stock method) 83,165 51,996 121,020 54,827
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Weighted average common shares outstanding as adjusted 3,518,928 3,509,545 3,509,461 3,504,191
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Primary net income per share $ 0.34 $ 0.38 $ 0.57 $ 0.66
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Three months ended Six months ended
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June 30, June 30, June 30, June 30,
1996 1997 1996 1997
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COMPUTATION OF FULLY DILUTED NET INCOME PER SHARE:
Net Income per primary computation above $1,179,722 $1,348,690 $2,006,534 $2,305,132
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Shares:
Weighted average common shares outstanding 3,435,763 3,457,549 3,388,441 3,449,364
Add: Shares issuable from assumed exercise
of options and warrants (as determined by the
application of the treasury stock method) 85,212 57,790 121,038 59,020
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Weighted average common shares outstanding as adjusted 3,520,975 3,515,339 3,509,479 3,508,384
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Fully diluted net income per share $ 0.34 $ 0.38 $ 0.57 $ 0.66
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