EXHIBIT 11 CALIFORNIA MICRO DEVICES CORPORATION Computation of Per Share Earnings (Amounts in Thousands, Except per Share Data) Twelve Months Twelve Months Nine Months Ended Ended Ended March 31, 1997 March 31, 1996 March 31, 1995 -------------------- -------------------- ------------------- Net income (loss) $ 704 $ 5,119 $(23,502) ======== ======== ======== PRIMARY: Weighted average common shares outstanding 10,234 10,035 8,554 Common equivalents attributable to: Options 315 610 -- -------- -------- -------- Total weighted average common and common equivalent shares outstanding 10,549 10,645 8,554 ======== ======== ======== Net income (loss) per share $ 0.07 $ 0.48 $ (2.75) ======== ======== ======== FULLY DILUTED: Weighted average common shares outstanding 10,234 10,035 8,554 Common equivalents attributable to: Options 392 658 -- -------- -------- -------- Total weighted average common and common equivalent shares outstanding 10,626 10,693 8,554 ======== ======== ======== Net income (loss) per share $ 0.07 $ 0.48 $ (2.75) ======== ======== ======== 42