AUDIOVOX CORPORATION Computation of Earnings Per Common Share Years Ended November 30, 1992, 1993 and 1994 (In thousands, except per share data) 1992 1993 1994 Primary earnings: Income before extraordinary item and cumulative effect of a change in an accounting principle $ 5,819 $10,051 $ 26,206 Extraordinary item 1,851 2,173 - Cumulative effect of change in accounting principle - - (178) Net income $ 7,670 $12,224 $26,028 Shares Weighted average number of common shares outstanding 9,007 9,009 9,037 Additional shares assuming conversion of: Stock options, performance share awards, and warrants - 38 69 Weighted average common shares outstanding, as adjusted 9,007 9,047 9,106 Primary earnings per common share: Before extraordinary item and cumulative effect $ 0.64 $ 1.11 $ 2.88 Extraordinary item $ 0.21 $ 0.24 - Cumulative effect - - $ (0.02) Net income $ 0.85 $ 1.35 $ 2.86 Fully diluted earnings: Income before extraordinary item and cumulative effect of a change in an accounting principle - $10,051 $26,206 Net interest expense related to convertible debt - 354 2,074 Income before extraordinary item and cumulative effect of a change in an accounting principle - 10,405 28,280 Extraordinary item - 2,173 - Cumulative effect of change in accounting principle - - (178) Net income applicable to common stock - $12,578 $28,102 Shares Weighted average number of common shares outstanding - 9,009 9,037 Additional shares assuming conversion of: Stock options, performance share awards, and warrants - 46 88 Convertible debentures - 1,023 3,644 Weighted average common shares outstanding, as adjusted - 10,078 12,769 Fully diluted earnings per common share: Before extraordinary item and cumulative effect - $ 1.03 $ 2.21 Extraordinary item - $ 0.22 - Cumulative effect - - $ (0.01) Net income - $ 1.25 $ 2.20 Exhibit 11