HERLEY INDUSTRIES, INC. AND SUBSIDIARIES Exhibit 11 COMPUTATION OF PER SHARE EARNINGS Thirteen weeks ended -------------------- October 29, October 30, 1995 1994 ----------- ----------- Net Income $ 515,831 $ 184,083 ======= ======= Weighted average number of common shares outstanding 2,960,242 4,175,689 ========= ========= Number of shares outstanding 2,802,274 4,175,689 ========= ========= Earnings per common and common equivalent share: Net income $ .17 $ .04 === === 11