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EXHIBIT 11
NAPCO SECURITY SYSTEMS, INC.
COMPUTATION OF EARNINGS PER SHARE
1996 1995 1994 1993 1992
---- ---- ---- ---- ----
Weighted average
number of shares
outstanding 4,367,727 4,367,727 4,367,577 4,366,827 4,366,527
Add common stock
equivalents 5,396 21,904 27,053 39,077 13,472
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Adjusted weighted
average shares
outstanding 4,373,123 4,389,631 4,394,630 4,405,904 4,379,999
========== ========== ========== ========== ==========
Net Income: $1,014,000 $ 512,000 $1,254,000 $2,317,000 $1,406,000
========== ========== ========== ========== ==========
Earnings per share:
primary and fully
diluted: $ .23 $ .12 $ .29 $ .53 $ .32
========== ========== ========== ========== ==========
Earnings per common and common equivalent shares are based upon the
weighted average number of shares of common stock and common stock equivalents
outstanding during the respective periods. Stock options have been considered to
be the equivalent of common stock. Shares issuable upon exercise of stock
options, to the extent appropriate, have been added to the average common shares
actually outstanding for purposes of this computation, and shares assumed to be
purchased at the average market price during the respective periods, with
proceeds from the exercise of such options, have been deducted from the average
shares outstanding.
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