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EXHIBIT 11
MEDEX, INC.
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COMPUTATION OF EARNINGS PER SHARE
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THREE MONTHS ENDED
SEPTEMBER 30,
1995 1994
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PRIMARY:
Weighted average
common shares outstanding 6,161,025 6,130,100
Common equivalent
shares - stock options 37,128(1) 66,126(1)
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Common shares and
common equivalent
shares outstanding 6,198,153 6,196,226
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NET INCOME $1,137,069 $1,317,662
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NET INCOME PER SHARE $ .18 $ .21
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FULLY DILUTED:
Weighted average
common shares outstanding 6,161,025 6,130,100
Common equivalent
shares - stock options 37,160(1) 83,703(1)
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Common shares and
common equivalent
shares outstanding 6,198,185 6,213,803
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NET INCOME $1,137,069 $1,317,662
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NET INCOME PER SHARE $ .18 $ .21
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<FN>
(1) Calculated under the Treasury Stock Method using the average price or
period-end market price of Medex stock, as applicable.