1 EXHIBIT 11.1 SOLECTRON CORPORATION AND SUBSIDIARIES STATEMENT REGARDING COMPUTATION OF 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 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 ======== ======= =======