EXHIBIT 11
BRUSH ENGINEERED MATERIALS INC. AND SUBSIDIARIES
COMPUTATION OF PER SHARE EARNINGS
<Table>
<Caption>
THIRD QUARTER ENDED NINE MONTHS ENDED
------------------------- -------------------------
SEP 28 SEP 29 SEP 28 SEP 29
2001 2000 2001 2000
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Basic:
Average shares outstanding............. 16,548,410 16,315,523 16,508,784 16,248,733
=========== =========== =========== ===========
Net income............................. $(7,767,000) $ 4,084,000 $ (286,000) $10,231,000
Per share amount....................... $ (0.47) $ 0.25 $ (0.02) $ 0.63
=========== =========== =========== ===========
Diluted:
Average shares outstanding............. 16,548,410 16,315,523 16,508,784 16,248,733
Dilutive stock options based on the
treasury stock method using average
market price........................ -- 205,505 -- 143,702
----------- ----------- ----------- -----------
Totals............................ 16,548,410 16,521,028 16,508,784 16,392,435
=========== =========== =========== ===========
Net income............................. $(7,767,000) $ 4,084,000 $ (286,000) $10,231,000
Per share amount....................... $ (0.47) $ 0.25 $ (0.02) $ 0.62
=========== =========== =========== ===========
</Table>