. . . EXHIBIT 11 BRUSH ENGINEERED MATERIALS INC. AND SUBSIDIARIES COMPUTATION OF PER SHARE EARNINGS FIRST QUARTER ENDED --------------------------- APR. 2 MAR. 28 2004 2003 ----------- ----------- Basic: Average shares outstanding 16,618,565 16,561,430 =========== =========== Net income/(Loss) $ 3,754,000 $(3,016,000) Per share amount $ 0.23 $ (0.18) =========== =========== Diluted: Average shares outstanding 16,618,565 16,561,430 Dilutive stock options based on the treasury stock method using average market price 362,221 -- ----------- ----------- Totals 16,980,786 16,561,430 =========== =========== Net income/(Loss) $ 3,754,000 $(3,016,000) Per share amount $ 0.22 $ (0.18) =========== ===========