NU HORIZONS ELECTRONICS CORP. EXHIBIT 11 COMPUTATION OF EARNINGS PER COMMON SHARE ---------------------------------------- (Unaudited) FOR THE YEAR ENDED ------------------ FEBRUARY FEBRUARY FEBRUARY 28, 1998 28, 1997 29, 1996 ----------- ------------ ------------ BASIC EARNINGS: - --------------- NET INCOME $ 5,297,991 $ 7,073,560 $ 9,396,301 =========== ============ ============ WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING 8,753,076 8,732,299 7,903,839 ----------- ------------ ------------ BASIC EARNINGS PER COMMON SHARE $ .61 $ .81 $ 1.19 =========== =========== =========== DILUTED EARNINGS: - ---------------- Net Income $ 5,297,991 $ 7,073,560 $ 9,396,301 Net (after tax) interest expense related to convertible debt 340,000 359,289 661,826 ----------- ------------ ------------ NET INCOME AS ADJUSTED $ 5,637,991 $ 7,432,849 $10,058,127 =========== ============ ============ SHARES: Weighted average number of common shares outstanding 8,753,076 8,732,299 7,903,839 Stock options 1,361,450 1,302,227 992,972 Assuming Conversion of convertible Debt 784,333 784,333 1,513,888 ----------- ------------ ------------ Weighted average number of common Shares outstanding as adjusted 10,898,859 10,818,859 10,410,699 =========== ============ ============ DILUTED EARNINGS PER COMMON SHARE =========== ============ ============ $ .52 $ .69 $ .97 =========== =========== ===========