EXHIBIT 11

COMPUTER NETWORK TECHNOLOGY CORPORATION
Statement Re: Computation of Net Income (loss) Per Basic and Diluted Share
(in thousands, except per share data)
(Unaudited)

|                                  |                         |  |                  |        |   |                    |                  |        |        |           |   |      |  
|--------------------------------- | ----------------------- |  | ---------------- | ------ | - | ------------------ | ---------------- | ------ | ------ | --------- | - | ---- | -
|                                  |                         |  |                  |        |   |                    | Weighted Average |        |        | Per Share |  
|                                  |                         |  | Net Income(loss) |        |   | Shares Outstanding |                  |        | Amount |          
|                                  |                         |  |                  |        |   |                    |                  |        |        |          
|Three Months Ended July 31, 2001: |                         |  |                  |        |   |                    |                  |        |        |           |   |     
|                                 
|                                 
|                                 
|                                 
|                                  | Basic                   |  | $                | (821   | ) |                    |                  | 29,729 |        |           | $ | (.03 | )
|                                 
|                                 
|                                 
|                                 
|                                  | Dilutive effect of      |  |                  |        |   |                    |                  |        |        |           |   |      |  
|                                 
|                                 
|                                 
|                                 
|                                  | employee stock purchase |  |                  |        |   |                    |                  |        |        |           |   |      |  
|                                 
|                                 
|                                 
|                                 
|                                  | awards and options(1)   |  |                  |       |   |                    |                  |       |        |           |   |     |  
|                                  |                         |  |                  |        |   |                    |                  |        |        |          
|                                  | Diluted                 |  | $                | (821   | ) |                    |                  | 29,729 |        |           | $ | (.03 | )
|                                  |                         |  |                  |        |   |                    |                  |        |        |          
|Three Months Ended July 31, 2000: |                         |  |                  |        |   |                    |                  |        |        |           |   |     
|                                 
|                                 
|                                 
|                                 
|                                  | Basic                   |  | $                | 2,053  |   |                    |                  | 24,102 |        |           | $ | .09  |  
|                                 
|                                 
|                                 
|                                 
|                                  | Dilutive effect of      |  |                  |        |   |                    |                  |        |        |           |   |      |  
|                                 
|                                 
|                                 
|                                 
|                                  | employee stock purchase |  |                  |        |   |                    |                  |        |        |           |   |      |  
|                                 
|                                 
|                                 
|                                 
|                                  | awards and options(1)   |  |                  |       |   |                    |                  | 1,823  |        |           |   | (.01 | )
|                                  |                         |  |                  |        |   |                    |                  |        |        |          
|                                  | Diluted                 |  | $                | 2,053  |   |                    |                  | 25,925 |        |           | $ | .08  |  
|                                  |                         |  |                  |        |   |                    |                  |        |        |          
|Six Months Ended July 31, 2001:   |                         |  |                  |        |   |                    |                  |        |        |           |   |     
|                                 
|                                 
|                                 
|                                 
|                                  | Basic                   |  | $                | (7,376 | ) |                    |                  | 29,746 |        |           | $ | (.25 | )
|                                 
|                                 
|                                 
|                                 
|                                  | Dilutive effect of      |  |                  |        |   |                    |                  |        |        |           |   |      |  
|                                 
|                                 
|                                 
|                                 
|                                  | employee stock purchase |  |                  |        |   |                    |                  |        |        |           |   |      |  
|                                 
|                                 
|                                 
|                                 
|                                  | awards and options(1)   |  |                  |       |   |                    |                  |       |        |           |   |     |  
|                                  |                         |  |                  |        |   |                    |                  |        |        |          
|                                  | Diluted                 |  | $                | (7,376 | ) |                    |                  | 29,746 |        |           | $ | (.25 | )
|                                  |                         |  |                  |        |   |                    |                  |        |        |          
|Six Months Ended July 31, 2000:   |                         |  |                  |        |   |                    |                  |        |        |           |   |     
|                                 
|                                 
|                                 
|                                 
|                                  | Basic                   |  | $                | 3,883  |   |                    |                  | 24,020 |        |           | $ | .16  |  
|                                 
|                                 
|                                 
|                                 
|                                  | Dilutive effect of      |  |                  |        |   |                    |                  |        |        |           |   |      |  
|                                 
|                                 
|                                 
|                                 
|                                  | employee stock purchase |  |                  |        |   |                    |                  |        |        |           |   |      |  
|                                 
|                                 
|                                 
|                                 
|                                  | awards and options(1)   |  |                  |       |   |                    |                  | 2,132  |        |           |   | (.01 | )
|                                  |                         |  |                  |        |   |                    |                  |        |        |          
|                                  | Diluted                 |  | $                | 3,883  |   |                    |                  | 26,152 |        |           | $ | .15  |  
|                                  |                         |  |                  |        |   |                    |                  |        |        |          



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|(1) |  | Potential dilutive securities, consisting of outstanding stock options
and shares issuable under the employee stock purchase plan, are
included in the computation of diluted net income per share using the
treasury stock method.
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