EXHIBIT 11.01 MSC INDUSTRIAL DIRECT CO., INC. AND SUBSIDIAIRES COMPUTATION OF PRO FORMA AND SUPPLEMENTAL PRO FORMA NET INCOME PER COMMON SHARE (amounts in thousands, except per share data) For the Year Ended August 31, 1996 ------------ PRO FORMA NET INCOME PER SHARE: - ------------------------------ Calculation of Pro Forma Net Income: Income before provision for income taxes $34,034 Pro forma provision for income taxes 13,443 ------- Pro forma net income $20,591 ------- Calculation of Pro Forma Weighted Average Number of Common Shares Outstanding: Weighted average number of common shares outstanding-- --Class A and Class B Common Stock 29,277 Restricted shares issued--Class A Common Stock 157 Shares issued for acquisitions--Class A Common Stock 105 Pro forma weighted average additional shares outstanding-- Final S Corporation Distribution 994 Weighted average common stock equivalent options outstanding 168 ------- Pro forma weighted average number of common shares outstanding 30,696 ------- Calculation of Pro Forma Net Income Per Common Share: Pro forma net income $20,591 Pro forma weighted average number of common shares outstanding 30,696 ------- Pro forma net income per common share $ 0.67 ======= SUPPLEMENTAL NET INCOME PER SHARE: - --------------------------------- Calculation of Supplemental Net Income: Pro forma net income $20,591 Pro forma impact of use of proceeds on interest expense, net of pro forma provision for income taxes 877 ------- Supplemental pro forma net income $21,468 ------- Calculation of Supplemental Pro Forma Weighted Average Number of Shares Outstanding: Debt repaid by offering proceeds $40,000 Proceeds per share in secondary offering 33.875 ------- Additional shares assumed outstanding 1,181 Pro forma weighted average number of common shares outstanding 30,696 ------- Supplemental pro forma weighted average number of common shares outstanding 31,877 ------- Calculation of Supplemental Pro Forma Net Income Per Common Share: Supplemental pro forma net income $21,468 Supplemental pro forma weighted average number of common shares outstanding 31,877 ------- Supplemental pro forma net income per common share $ 0.67 =======