Exhibit 11.1 SOLECTRON CORPORATION AND SUBSIDIARIES STATEMENT REGARDING NET INCOME PER SHARE (in thousands, except per share data) Years ended August 31, -------------------------------- 1996 1995 1994 Weighted average number of shares of common stock and common stock equivalents: Primary: Common Stock 50,838 42,861 41,023 Common stock and equivalents - stock options 1,289 912 1,182 ------ ------ ------ 52,127 43,773 42,205 Fully Diluted: Common shares issuable upon assumed conversion of convertible subordinated notes 3,044 8,286 9,557 Incremental increase in common stock equivalent options using end of period market price 6 523 271 ----- ----- ----- 55,177 52,582 52,033 Net Income $114,232 $ 79,526 $55,545 Interest accretion on convertible subordinated notes, net of taxes 5,499 5,439 5,944 Net income - fully diluted $119,731 $ 84,965 $ 61,489 ======= ======= ====== Net income per share - primary $2.19 $1.82 $1.32 ===== ===== ===== Net income per share - fully diluted $2.17 $1.62 $1.18 ===== ===== =====