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EXHIBIT 11.1
REMEC, INC.
COMPUTATION OF EARNINGS PER SHARE
Three Months
Years Ended January 31, Ended
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May 5, May 4,
1995 1996 1997 1996 1997
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(In Thousands Except Per Share Data)
Net income per share:
Net income ..................... $2,987 $2,854 $5,728 $1,008 $ 2,473
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Weighted average shares
outstanding:
Common stock ................... 6,171 6,143 9,583 9,439 12,176
Effect of common stock
equivalents................... -- -- 97 114 435
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 -- -- --
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Shares used in per share
calculation..................... 7,293 7,265 9,680 9,553 12,611
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Net income per share ............. $ .41 $ .39 $ .59 $ .11 $ .20
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C&S HYBRID, INC.
COMPUTATION OF EARNINGS PER SHARE
(IN THOUSANDS EXCEPT PER SHARE AMOUNTS)
Quarter Ended
Years Ended December March
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1994 1995 1996 1996 1997
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Net income........................ $ 267 $ 523 $ 493 $ 145 $ 225
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Weighted average common shares
outstanding .................... 3,808 3,808 4,038 3,808 4,798
Common equivalent shares issuable
under conversion of preferred
stock using the as converted
method ......................... 400 400 400 400 400
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Common and common equivalent
shares used in computing net
income per share ............... 4,208 4,208 4,438 4,208 5,198
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Net income per share ............. $ .06 $ .12 $ .11 $ .03 $ .04
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