EXHIBIT 11
NORSTAN, INC. AND SUBSIDIARIES
STATEMENT REGARDING COMPUTATION OF EARNINGS PER SHARE
(In thousands, except per share amounts)
THREE MONTHS ENDED SIX MONTHS ENDED
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NOVEMBER 1, NOVEMBER 2, NOVEMBER 1, NOVEMBER 2,
1997 1996 1997 1996
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PRIMARY EARNINGS PER SHARE -
Weighted average number of
issued shares outstanding 9,566 9,122 9,510 8,968
Effect of:
1986 Long-Term Incentive Plan 110 171 99 276
1995 Long-Term Incentive Plan 180 30 110 15
Restated Non-Employee Directors'
Stock Plan 21 82 18 98
Employee Stock Purchase Plan - 11 - 12
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Shares outstanding used to compute
primary earnings per share 9,877 9,416 9,737 9,369
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Net income $3,102 $2,676 $5,097 $4,368
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PRIMARY EARNINGS PER SHARE $ .31 $ .28 $ .52 $ .47
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FULLY DILUTED EARNINGS PER SHARE -
Weighted average number of shares
used for primary earnings
per share 9,877 9,416 9,737 9,369
Effect of:
1986 Long-Term Incentive Plan 8 4 10 2
1995 Long-Term Incentive Plan 48 5 42 3
Restated Non-Employee Directors'
Stock Plan 2 1 2 -
Employee Stock Purchase Plan 1 2 3 -
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Shares outstanding used to compute
fully diluted earnings per share 9,936 9,428 9,794 9,374
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Net income $3,102 $2,676 $5,097 $4,368
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FULLY DILUTED EARNINGS PER SHARE $ .31 $ .28 $ .52 $ .47
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