EXHIBIT 11 PLY GEM INDUSTRIES, INC. AND SUBSIDIARIES COMPUTATIONS OF NET INCOME PER SHARE (Unaudited) Quarter Six Months Ended Ended July 2, 1994 July 2, 1994 ------------ ------------ Weighted average common shares outstanding, net of unamortized restricted stock 14,570,000 13,025,000 Add: shares assumed to be issued upon exercise of employee stock options at the average market price under the modified treasury stock method and restricted stock earned 1,186,000 614,000 ---------- ---------- Primary shares 15,756,000 13,639,000 ---------- ---------- Add: additional shares assumed to be issued upon exercise of employee stock options at quarter - end market price (if higher than average market price) -0- 984,000 ---------- ---------- Fully diluted shares 15,756,000 14,623,000 ========== ========== Net income $6,265,000 $4,960,000 ========== ========== Primary earnings per share $.40 $.36 ==== ==== Fully diluted earnings per share .40 .34 ==== ====