1 Exhibit 11 BRUSH ENGINEERED MATERIALS INC. AND SUBSIDIARIES COMPUTATION OF PER SHARE EARNINGS SECOND QUARTER ENDED SIX MONTHS ENDED ------------------------------ ------------------------------ JUN 29 JUN 30 JUN 29 JUN 30 2001 2000 2001 2000 ----------- ----------- ----------- ----------- Basic: Average shares outstanding 16,508,248 16,224,638 16,487,575 16,215,338 =========== =========== =========== =========== Net income $ 1,275,000 $ 3,898,000 $ 7,481,000 $ 6,147,000 Per share amount $ 0.08 $ 0.24 $ 0.45 $ 0.38 =========== =========== =========== =========== Diluted: Average shares outstanding 16,508,248 16,224,638 16,487,575 16,215,338 Dilutive stock options based on the treasury stock method using average market price 182,690 133,490 195,997 120,685 ----------- ----------- ----------- ----------- Totals 16,690,938 16,358,128 16,683,572 16,336,023 =========== =========== =========== =========== Net income $ 1,275,000 $ 3,898,000 $ 7,481,000 $ 6,147,000 Per share amount $ 0.08 $ 0.24 $ 0.45 $ 0.38 =========== =========== =========== ===========