1 EXHIBIT 11 BRUSH ENGINEERED MATERIALS INC. AND SUBSIDIARIES COMPUTATION OF PER SHARE EARNINGS SECOND QUARTER ENDED SIX MONTHS ENDED ------------------------- ------------------------- JUNE 30, JULY 2, JUNE 30, JULY 2, 2000 1999 2000 1999 ----------- ----------- ----------- ----------- Basic: Average shares outstanding 16,224,638 16,197,328 16,215,338 16,195,533 =========== =========== =========== =========== Net income $ 3,898,000 $ 3,233,000 $ 6,147,000 $ 5,719,000 Per share amount $ 0.24 $ 0.20 $ 0.38 $ 0.35 =========== =========== =========== =========== Diluted: Average shares outstanding 16,224,638 16,197,328 16,215,338 16,195,533 Dilutive stock options based on the treasury stock method using average market price 133,490 71,764 120,685 57,026 ----------- ----------- ----------- ----------- Totals 16,358,128 16,269,092 16,336,023 16,252,559 =========== =========== =========== =========== Net income $ 3,898,000 $ 3,233,000 $ 6,147,000 $ 5,719,000 Per share amount $ 0.24 $ 0.20 $ 0.38 $ 0.35 =========== =========== =========== ===========