EXHIBIT 11 BRUSH ENGINEERED MATERIALS INC. AND SUBSIDIARIES COMPUTATION OF PER SHARE EARNINGS THIRD QUARTER ENDED NINE MONTHS ENDED --------------------------------- --------------------------------- SEP 27 SEP 28 SEP 27 SEP 28 2002 2001 2002 2001 --------------- --------------- --------------- --------------- Basic: Average shares outstanding 16,558,417 16,548,410 16,557,026 16,508,784 =============== =============== =============== =============== Net Loss $ (2,906,000) $(7,767,000) $ (8,788,000) $ (286,000) Per share amount $ (0.18) $ (0.47) $ (0.53) $ (0.02) =============== =============== =============== =============== Diluted: Average shares outstanding 16,558,417 16,548,410 16,557,026 16,508,784 Dilutive stock options based on the treasury stock method using average market price - - - - --------------- --------------- --------------- --------------- Totals 16,558,417 16,548,410 16,557,026 16,508,784 =============== =============== =============== =============== Net Loss $ (2,906,000) $(7,767,000) $ (8,788,000) $ (286,000) Per share amount $ (0.18) $ (0.47) $ (0.53) $ (0.02) =============== =============== =============== =============== 23