EXHIBIT 11.01
ESS TECHNOLOGY, INC.
COMPUTATION OF NET INCOME PER SHARE
(IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)
<Table>
<Caption>
DECEMBER 31,
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2001 2000 1999
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Weighted average common shares.............................. 42,274 42,548 40,640
Weighted average incremental common equivalent shares:
Common stock(2)........................................... 2,988 3,395 4,985
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Total weighted average common and common equivalent
shares.................................................... 45,262 45,943 45,625
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Net income (loss)........................................... $ (1,817) $48,306 $40,105
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Net income (loss) per share................................. $ (0.04) $ 1.05 $ 0.88
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</Table>
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(1) This Exhibit should be read in conjunction with Note 1 of Notes to
Consolidated Financial Statements.
(2) Earnings per share is computed using the weighted average number of common
and common equivalent shares ("weighted average shares") outstanding during
the period. Common equivalent shares consist of the Company's common stock
issuable upon exercise of stock options (using the treasury stock method),
except when antidilutive.