1 EXHIBIT 11 BRUSH ENGINEERED MATERIALS INC. AND SUBSIDIARIES COMPUTATION OF PER SHARE EARNINGS FIRST QUARTER ENDED -------------------------- MAR 29 MAR 30 2001 2000 ----------- ----------- Basic: Average shares outstanding................................ 16,467,368 16,206,038 =========== =========== Net income................................................ $ 6,206,000 $ 2,249,000 Per share amount.......................................... $ 0.38 $ 0.14 =========== =========== Diluted: Average shares outstanding................................ 16,467,368 16,206,038 Dilutive stock options based on the treasury stock method using average market price............................. 210,399 108,480 ----------- ----------- Totals............................................ 16,677,767 16,314,518 =========== =========== Net income................................................ $ 6,206,000 $ 2,249,000 Per share amount.......................................... $ 0.37 $ 0.14 =========== =========== 16