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EXHIBIT 11
MEDEX, INC.
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COMPUTATION OF EARNINGS PER SHARE
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THREE MONTHS ENDED SIX MONTHS ENDED
DECEMBER 31, DECEMBER 31,
1995 1994 1995 1994
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PRIMARY:
Weighted average
common shares outstanding 6,167,157 6,132,740 6,164,091 6,131,420
Common equivalent
shares - stock options 34,436(1) 79,160(1) 35,782(1) 72,643(1)
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Common shares and
common equivalent
shares outstanding 6,201,593 6,211,900 6,199,873 6,204,063
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NET INCOME (LOSS) $ 138,876 $ (648,418) $1,275,945 $ 669,244
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NET INCOME (LOSS) PER SHARE $ .02 $ (.10) $ .21 $ .11
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FULLY DILUTED:
Weighted average
common shares outstanding 6,167,157 6,132,740 6,164,091 6,131,420
Common equivalent
shares - stock options 35,064(1) 90,118(1) 36,112(1) 86,911(1)
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Common shares and
common equivalent
shares outstanding 6,202,221 6,222,858 6,200,203 6,218,331
========= ========= ========== ==========
NET INCOME (LOSS) $ 138,876 $(648,418) $1,275,945 $ 669,244
========= ========= ========== ==========
NET INCOME (LOSS) PER SHARE $ .02 $ (.10) $ .21 $ .11
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(1) Calculated under the Treasury Stock Method using the average price or
period-end market price of Medex stock, as applicable.