EXHIBIT 11 NORLAND MEDICAL SYSTEMS INC. Statement Regarding Computation of Earnings Per Share Primary Basis: For the Year Ended ------------------------------------------- December 31, 1996 December 31, 1995 ----------------- ----------------- Net income $2,191,374 $2,100,489 Weighted average shares outstanding 6,760,500 4,241,096 Stock options 408,371 1,004,139 Weighted average number of common and common equivalent shares outstanding 7,168,871 5,245,235 Earnings per share $0.31 $0.40 Fully Diluted Basis: For the Year Ended ------------------------------------------- December 31, 1996 December 31, 1995 ----------------- ----------------- Net income $2,191,374 $2,100,489 Weighted average shares outstanding 6,760,500 4,241,096 Stock options 408,371 1,007,088 Weighted average number of common and common equivalent shares outstanding 7,168,871 5,248,184 Earnings per share $0.31 $0.40