Page 5
Exhibit 11
NAI TECHNOLOGIES, INC. AND SUBSIDIARIES
(in thousands)
- --------------------------------------------------------------------------------
Three Months Ended
Sept. 30, Sept. 28,
1996 1995
- --------------------------------------------------------------------------------
Net Income (loss) $ 964 ($2,296)
Average shares of common stock outstanding
during the period 8,571 7,459
Incremental shares from assumed exercise of stock
options, stock warrants & employee stock
purchase plan (primary) 429 0
Total shares used to calculate PEPS* 9,000 7,459
------- -------
Primary earnings per share $ 0.11 ($ 0.31)
======= =======
Net Income (loss) $ 964 ($2,296)
Interest on Convertible Debt (Net of Taxes) 184 0
Amortization of OID (Net of Taxes) 19 0
Amortization of Deferred Debt Expense (Net of Taxes) 120 0
------- -------
Adjusted Net Income $ 1,287 ($2,296)
======= =======
Average shares of common stock outstanding
during the period 8,571 7,459
Incremental shares from assumed exercise of stock
options, stock warrants & employee stock
purchase plan (fully diluted) 561 0
Dilution from Convertible Debt 2,789 0
Total shares used to calculate FDEPS* 11,921 7,459
------- -------
Fully Diluted earnings per share $ 0.11 ($ 0.31)
======= =======
*Per APB 15, when a net loss is reported, exercise or conversion is not to be
assumed.
Page 6
Exhibit 11
NAI TECHNOLOGIES, INC. AND SUBSIDIARIES
(in thousands)
- --------------------------------------------------------------------------------
Nine Months Ended
Sept. 30, Sept. 28,
1996 1995
- --------------------------------------------------------------------------------
Net Income (loss) $1,329 ($9,195)
Average shares of common stock outstanding
during the period 8,022 7,356
Incremental shares from assumed exercise of stock
options, stock warrants & employee stock
purchase plan (primary) 304 0
Total shares used to calculate PEPS* 8,326 7,356
------ -------
Primary earnings per share $ 0.16 ($ 1.25)
====== =======
Net Income (loss) $1,329 ($9,195)
Interest on Convertible Debt (Net of Taxes) 548 0
Amortization of OID (Net of Taxes) 79 0
Amortization of Deferred Debt Expense (Net of Taxes) 345 0
------- -------
Adjusted Net Income $ 2,301 ($9,195)
======= =======
Average shares of common stock outstanding
during the period 8,022 7,356
Incremental shares from assumed exercise of stock
options, stock warrants & employee stock
purchase plan (primary) 478 0
Dilution from Convertible Debt 2,789 0
Total shares used to calculate FDEPS* 11,289 7,356
------- -------
Fully Diluted earnings per share $ 0.20 ($ 1.25)
======= =======
*Per APB 15, when a net loss is reported, exercise or conversion is not to be
assumed.