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EXHIBIT 11
NAPCO SECURITY SYSTEMS, INC. AND SUBSIDIARIES
COMPUTATION OF EARNINGS PER SHARE
1998 1997 1996 1995 1994
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Weighted average number of
shares outstanding 4,262,686 4,368,727 4,367,727 4,367,727 4,367,577
Add common stock equivalents 22,536 14,222 5,396 21,904 27,053
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Adjusted weighted average
shares outstanding 4,285,222 4,382,949 4,373,123 4,389,631 4,394,630
========== ========== ========== ========== ==========
Net Income: $2,038,000 $1,639,000 $1,014,000 $ 512,000 $1,254,000
========== ========== ========== ========== ==========
Earnings per share:
Basic: $ .48 $ .38 $ .23 $ .12 $ .29
========== ========== ========== ========== ==========
Diluted: $ .48 $ .37 $ .23 $ .12 $ .29
========== ========== ========== ========== ==========
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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