TECHNE CORPORATION CALCULATION OF BASIC EARNINGS PER SHARE Fiscal Years Ended June 30, --------------------------- 2002 2001 2000 ----------- ----------- ----------- Net earnings $27,129,669 $34,045,376 $26,582,797 Weighted average number of common shares 41,507,727 41,438,670 40,625,482 Net earnings per share $ 0.65 $ 0.82 $ 0.65 CALCULATION OF DILUTED EARNINGS PER SHARE Fiscal Years Ended June 30, --------------------------- 2002 2001 2000 ----------- ----------- ----------- Net earnings $27,129,669 $34,045,376 $26,582,797 Weighted average number of common shares 41,507,727 41,438,670 40,625,482 Dilutive effect of stock options and warrants 1,014,937 1,229,566 1,580,560 ----------- ----------- ---------- Average common and dilutive shares outstanding 42,522,664 42,668,236 42,206,042 Net earnings per share $ 0.64 $ 0.80 $ 0.63