EXHIBIT 11.1 International Electronics, Inc. Calculation of Net Income Per Share Three Months Ended November 30, 1996 PRIMARY NET INCOME PER SHARE - ---------------------------- Weighted average common and equivalent shares: Common stock 1,492,469 Common equivalent shares resulting from dilutive stock options and warrants (treasury stock method using the average market price) 228,425 ---------- Total 1,720,894 ========== Net income $ 28,128 ========== Net income per share $ .02 ========== FULLY DILUTED NET INCOME PER SHARE - ---------------------------------- Weighted average common and equivalent shares: Common stock 1,492,469 Common equivalent shares resulting from dilutive stock options and warrants (treasury stock method using the higher of the ending or average market price) 247,901 ---------- Total 1,740,370 ========== Net income $ 28,128 ========== Net income per share $ .02 ==========