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EXHIBIT 11
NAPCO SECURITY SYSTEMS, INC. AND SUBSIDIARIES
COMPUTATION OF EARNINGS PER SHARE
1997 1996 1995 1994 1993
---- ---- ---- ---- ----
Weighted average number of
shares outstanding 4,368,727 4,367,727 4,367,727 4,367,577 4,366,827
Add common stock equivalents 14,222 5,396 21,904 27,053 39,077
------ ----- ------ ------ ------
Adjusted weighted average
shares outstanding 4,382,949 4,373,123 4,389,631 4,394,630 4,405,904
========== ========= ========= ========= =========
Net Income: $1,639,000 $1,014,000 $512,000 $1,254,000 $2,317,000
========== ========== ======== ========== ==========
Earnings per share:
primary and fully diluted: $ .37 $ .23 $ .12 $ .29 $ .53
========== ========== ======== ========== ==========
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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