Exhibit 11
NAI TECHNOLOGIES, INC. AND SUBSIDIARIES
(In thousands)
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Three Three
Months Months
Ended Ended
Mar 29, Mar 30,
1997 1996
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Net Income (loss) $379 ($450)
Average shares of common stock outstanding during the period 9,028 7,459
Incremental shares from assumed exercise of stock options, stock
warrants & employee stock purchase plan (primary) 1,171 0
Total shares used to calculate PEPS * 10,199 7,459
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Primary earnings per share $0.04 ($0.06)
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Net Income (loss) 379 (450)
Interest on Convertible Debt (Net of Taxes) 151 146
Amortization of OID (Net of Taxes) 44 26
Amortization of Deferred Debt Expense (Net of Taxes) 104 55
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Adjusted Net Income 678 (223)
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Average shares of common stock outstanding during the period 9,028 7,459
Incremental shares from assumed exercise of stock options, stock
warrants & employee stock purchase plan (fully diluted) 1,357 3
Dilution from Convertible Debt 2,604 4,121
Total shares used to calculate FDEPS * 12,989 7,459
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Fully Diluted earnings per share $0.05 ($0.03)
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* Per APB 15, when a net loss is reported, exercise or conversion is not to be
assumed.