ELECTROMAGNETIC SCIENCES, INC. AND SUBSIDIARIES Exhibit 11.1 Statement re: Computation of Per Share Earnings (In thousands, except net earnings per share) Three months ended Nine months ended September 30 September 30 1994 1993 1994 1993 Common and common equivalent shares: Weighted average shares outstanding of common stock 6,773 6,710 6,752 6,707 Dilutive effect of outstanding common stock options (as determined by the treasury stock method using the average market price for the period) 237 0 252 149 Total common and common equivalent shares 7,010 6,710 7,004 6,856 For purposes of calculating primary earnings (loss) per share, the Company's proportionate share of the net earnings (loss) of LXE Inc. has been adjusted to reflect the dilutive effect of LXE's outstanding stock options. Following is a summary of net earnings (loss) applicable to earnings (loss) per common and common equivalent share: Net earnings excluding LXE Inc. $ 329 335 495 659 Adjusted proportionate share of net earnings (loss) of LXE Inc. 765 (1,102) 1,927 (222) Total net earnings (loss) applicable to earnings (loss) per common and common equivalent share $ 1,094 (767) 2,422 (437) Net earnings (loss) per common and common equivalent share $ .16 (.11) .35 .06