1 EXHIBIT 11.1 FLEXTRONICS INTERNATIONAL LTD. AND SUBSIDIARIES STATEMENT RE: COMPUTATION OF EARNINGS PER SHARE (UNAUDITED) THREE MONTHS ENDED JUNE 30, ----------------------- 1997 1996 ------- ------- (IN THOUSANDS, EXCEPT PER SHARE AMOUNTS) Shares issued and outstanding (1) 13,686 13,271 Shares due to Astron (2) 806 886 Common Stock Equivalent Stock Options (3) 463 757 ------- ------- 14,955 14,914 ======= ======= Net income $ 5,312 $ 4,197 ======= ======= Earnings per share: $ 0.36 $ 0.28 ======= ======= (1) Shares issued and outstanding - based on the weighted average method. (2) Shares due to Astron in June 1998. (3) Stock options - based on the treasury stock method using average market price for the three month period ending June 30, 1997. 19