Exhibit 11.1
International Electronics, Inc.
Calculation of Net Income Per Share
(unaudited)
PRIMARY NET INCOME PER SHARE
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Weighted average common and Three months ended
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equivalent shares: Nov. 30, 1997 Nov. 30, 1996
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Common stock 1,493,301 1,492,469
Common equivalent shares
resulting from dilutive stock
options and warrants (treasury
stock method using the average
market price) 93,752 228,425
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Total 1,587,053 1,720,894
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Net income $109,064 $28,128
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Net income per share $.07 $.02
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FULLY DILUTED NET INCOME PER SHARE
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Weighted average common and
equivalent shares:
Common stock 1,493,301 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) 99,128 247,901
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Total 1,592,429 1,740,370
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Net income $109,064 $28,128
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Net income per share $.07 $.02
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