Norland Medical Systems, Inc. Exhibit 11
Statement Regarding Computation of Earnings Per Share
(Unaudited)
Primary Basis Three Months Ended
------------------------------
June 30, 1997 June 30, 1996
------------- -------------
Net income $ 631,658 $ 750,057
Weighted average shares
outstanding 7,149,800 6,838,320
Stock options 39,047 425,592
Weighted average number of
common and common equivalent
shares outstanding 7,188,847 7,263,912
Earnings per share $ 0.09 $ 0.10
Primary Basis Six Months Ended
--------------------------------
June 30, 1997 June 30, 1996
------------- -------------
Net income $1,104,756 $1,441,313
Weighted average shares
outstanding 7,132,909 6,582,532
Stock options 42,871 574,764
Weighted average number of
common and common equivalent
shares outstanding 7,175,780 7,157,296
Earnings per share $ 0.15 $ 0.20
Fully Diluted Basis Three Months Ended
------------------------------
June 30, 1997 June 30, 1996
------------- -------------
Net income $ 631,658 $ 750,057
Weighted average shares
outstanding 7,149,800 6,838,320
Stock options 70,573 425,592
Weighted average number of
common and common equivalent
shares outstanding 7,220,373 7,263,912
Earnings per share $ 0.09 $ 0.10
Fully Diluted Basis Six Months Ended
--------------------------------
June 30, 1997 June 30, 1996
------------- -------------
Net income $1,104,756 $1,441,313
Weighted average shares
outstanding 7,132,909 6,582,532
Stock options 71,400 574,764
Weighted average number of
common and common equivalent
shares outstanding 7,204,309 7,157,296
Earnings per share $ 0.15 $ 0.20
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