EXHIBIT 11
TECHNE CORPORATION
CALCULATION OF BASIC EARNINGS PER SHARE
Year ended June 30,
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1998 1997 1996
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Net earnings $15,182,961 $10,881,662 $8,637,870
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Weighted average number
of common shares 18,952,968 18,910,608 18,872,806
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Net earnings per share $ 0.80 $ 0.58 $ 0.46
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CALCULATION OF DILUTED EARNINGS PER SHARE
Year ended June 30,
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1998 1997 1996
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Net earnings $15,182,961 $10,881,662 $8,637,870
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Weighted average number
of common shares 18,952,968 18,910,608 18,872,806
Dilutive effect of stock
options and warrants 654,662 551,924 570,044
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Average common and dilutive
shares outstanding 19,607,630 19,462,532 19,442,850
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Net earnings
per share $ 0.77 $ 0.56 $ 0.44
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