1 EXHIBIT 11.1 FLEXTRONICS INTERNATIONAL LTD. COMPUTATION OF NET INCOME (LOSS) PER SHARE (IN THOUSANDS, EXCEPT SHARE DATA) YEAR ENDED THREE MONTHS ENDED MARCH 31, JUNE 30, ---------------------------- ------------------ 1995 1996 1997 1996 1997 ------- ------- ------- ------ ------ Shares issued and outstanding 11,404 12,684 14,299 14,157 14,492 Common Stock Equivalent Warrants and Stock Options 699 0 578 757 463 ------- ------- ------- ------ ------ 12,103 12,684 14,877 14,914 14,955 ------- ------- ------- ------ ------ Net income/(loss) $ 6,156 (15,132) 7,463 4,197 5,312 ------- ------- ------- ------ ------ Earnings per share: Net income/(loss) $ 0.51 $ (1.19) $ 0.50 $ 0.28 $ 0.36 ------- ------- ------- ------ ------ Note: Net income is computed using the weighted average number of Ordinary Share equivalents outstanding during the respective periods. Ordinary Share equivalents include Ordinary Shares issuable upon the exercise of stock options computed using the treasury stock method. The computations of the respective years give retroactive effect to the acquisition of nCHIP, Inc. which was accounted for under the pooling of interest method. Hence, the number of share equivalents and net income are restated as if the acquisition took place on April 1, 1993. 2