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Exhibit 11
PIONEER-STANDARD ELECTRONICS, INC.
COMPUTATION OF PER SHARE EARNINGS
Three months ended Nine months ended
December 31, December 31,
1993 1992 1993 1992
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PRIMARY
Weighted average Common Shares
and Common Share
equivalents outstanding 10,100,355 9,944,115 10,056,548 8,928,148
Net income $4,887,000 $3,299,000 $14,146,000 $9,262,000
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Earnings per share $.48 $.33 $1.41 $1.04
FULLY DILUTED
Weighted average Common Shares
and Common Share
equivalents outstanding 8,965,623
Assumed conversion of
9% convertible debentures 1,004,740
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Total 9,970,363
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Net income $9,262,000
Add 9% convertible debenture
interest, net of federal
income tax effect 399,000
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Total net income as adjusted $9,661,000
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Earnings per share $.97
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