NU HORIZONS ELECTRONICS CORP. EXHIBIT 11 COMPUTATION OF EARNINGS PER COMMON SHARE ---------------------------------------- (Unaudited) FOR THE YEAR ENDED ------------------ FEBRUARY FEBRUARY FEBRUARY 29, 1996 28, 1995 28, 1994 ----------- ---------- ---------- PRIMARY EARNINGS: - ---------------- NET INCOME $ 9,396,301 $4,421,823 $5,044,225 =========== ========== ========== WEIGHTED AVERAGE SHARES: Common shares outstanding 7,903,839 7,728,549 7,657,025 Common share equivalents 332,410 119,128 117,415 =========== ========== ========== Weighted average number of common shares and common share equivalents outstanding 8,236,249 7,847,677 7,774,440 =========== ========== ========== PRIMARY EARNINGS PER COMMON SHARE: Net Income $1.14 $.56 $ .65 =========== ========== ========== FULLY DILUTED EARNINGS: - ------------------------------------- Net Income $ 9,396,301 $4,421,823 $5,044,225 Net (after tax) interest expense related to convertible debt 661,826 365,062 - ----------- ---------- ---------- NET INCOME AS ADJUSTED $10,058,127 $4,786,885 $5,044,225 =========== ========== ========== SHARES: Weighted average number of common shares and common share equivalents outstanding 8,236,249 7,847,677 7,774,440 Additional options not included above 660,562 598,287 40,165 Assuming Conversion of convertible debt 1,513,888 833,333 - ----------- ---------- ---------- Weighted average number of common shares outstanding as adjusted 10,410,699 9,279,297 7,814,605 =========== ========== ========== FULLY DILUTED EARNINGS PER COMMON SHARE $.97 $.52 $ .65 =========== ========== ==========