1 EXHIBIT 11.1 REMEC, INC. STATEMENT RE: COMPUTATION OF PER SHARE DATA (AMOUNTS IN THOUSANDS EXCEPT PER SHARE DATA) YEARS ENDED JANUARY 31, 1995 1996 1997 ------ ------ ------ Net income........................................... $2,532 $2,156 $4,870 ====== ====== ====== Average common shares outstanding.................... 5,545 5,517 8,942 Adjustments to reflect requirements of the Securities and Exchange Commission (Effect of SAB 83)......... 44 44 -- Effect of assumed conversion of preferred shares from date of issuance.............................. 1,078 1,078 -- Effect of common stock equivalents................... -- -- 97 ------ ------ ------ Adjusted shares outstanding.......................... 6,667 6,639 9,039 ====== ====== ====== Net income per share reflecting requirements of the Securities and Exchange Commission................ $ 0.38 $ 0.32 $ 0.54 ====== ====== ====== 1