EXHIBIT 11.1
International Electronics, Inc.
Calculation of Net Income (Loss) Per Share
Three months ended Six months ended
----------------------------- ------------------------------
Feb. 28, 1997 Feb. 29, 1996 Feb. 28, 1997 Feb. 29, 1996
-------------- ------------- ------------- -------------
PRIMARY NET INCOME (LOSS) PER SHARE
- ------------------------------------------------
Weighted average common and equivalent shares:
Common stock 1,492,551 1,433,892 1,492,510 1,420,780
Common equivalent shares resulting
from dilutive stock options and
warrants (treasury stock method
using the average market price) - 130,859 - 122,726
--------- ---------- --------- ----------
Total 1,492,551 1,564,751 1,492,510 1,543,506
========= ========== ========= ==========
Net income (loss) ($69,778) $ 50,280 ($41,648) $ 80,549
========= ========== ========= ==========
Net income (loss) per share:
Income (loss) before
extraordinary gain ($.06) $ .03 ($.04) $ .05
Extraordinary gain .01 - .01 -
--------- ---------- --------- ----------
Net income (loss) ($.05) $ .03 ($.03) $ .05
========= ========== ========= ==========
FULLY DILUTED NET INCOME (LOSS) PER SHARE
- -----------------------------------------
Weighted average common and equivalent shares:
Common stock 1,492,551 1,433,892 1,492,510 1,420,780
Common equivalent shares resulting
from dilutive stock options and
warrants (treasury stock method
using the higher of the ending
or average market price) - 258,338 - 260,143
--------- ---------- --------- ---------
Total 1,492,551 1,692,230 1,492,510 1,680,923
========= ========== ========= =========
Net income (loss) ($69,778) $ 50,280 ($41,648) $ 80,549
========= ========== ========= =========
Net income (loss) per share:
Income (loss) before
extraordinary gain ($.06) $ .03 ($.04) $ .05
Extraordinary gain .01 - .01 -
--------- ---------- --------- ---------
Net income (loss) ($.05) $ .03 ($.03) $ .05
========= ========== ========= ==========