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EXHIBIT 11
NATIONAL DENTEX CORPORATION
COMPUTATION OF NET INCOME PER SHARE
Three months ended Nine months ended
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September 30, September 30, September 30, September 30,
1996 1997 1996 1997
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COMPUTATION OF PRIMARY NET INCOME PER SHARE:
Net Income applicable to common stock $ 836,052 $1,002,493 $2,842,586 $3,307,625
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Shares:
Weighted average common shares outstanding 3,439,904 3,459,072 3,405,721 3,452,638
Add: Shares issuable from assumed exercise
of options and warrants (as determined by the
application of the treasury stock method) 70,560 65,800 104,561 58,310
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Weighted average common shares outstanding as adjusted 3,510,464 3,524,872 3,510,282 3,510,948
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Primary net income per share $ 0.24 $ 0.28 $ 0.81 $ 0.94
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COMPUTATION OF FULLY DILUTED NET INCOME PER SHARE:
Net Income per primary computation above $ 836,052 $1,002,493 $2,842,586 $3,307,625
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Shares:
Weighted average common shares outstanding 3,439,904 3,459,072 3,405,721 3,452,638
Add: Shares issuable from assumed exercise
of options and warrants (as determined by the
application of the treasury stock method) 70,560 75,165 104,561 75,860
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Weighted average common shares outstanding as adjusted 3,510,464 3,534,237 3,510,282 3,528,498
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Fully diluted net income per share $ 0.24 $ 0.28 $ 0.81 $ 0.94
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