TECHNE CORPORATION CALCULATION OF BASIC EARNINGS PER SHARE Fiscal Years Ended June 30, ------------------------------------- 2001 2000 1999 ----------- ----------- ----------- Net earnings $34,045,376 $26,582,797 $16,656,010 Weighted average number of common shares 41,438,670 40,625,482 40,234,734 Net earnings per share $ 0.82 $ 0.65 $ 0.41 CALCULATION OF DILUTED EARNINGS PER SHARE Fiscal Years Ended June 30, ------------------------------------- 2001 2000 1999 ----------- ----------- ----------- Net earnings $34,045,376 $26,582,797 $16,656,010 Weighted average number of common shares 41,438,670 40,625,482 40,234,734 Dilutive effect of stock options and warrants 1,229,566 1,580,560 1,138,616 ----------- ----------- ----------- Average common and dilutive shares outstanding 42,668,236 42,206,042 41,373,350 =========== =========== =========== Net earnings per share $ 0.80 $ 0.63 $ 0.40