1 Exhibit 11 WHITE ELECTRONIC DESIGNS CORPORATION COMPUTATION OF EARNINGS PER COMMON SHARE SIX MONTHS ENDED APRIL 1, 2000 _______________________________________________________________________________ SIX MONTHS FISCAL YEAR 2ND QUARTER 2000 2000 _______________________________________________________________________________ INCOME (LOSS) PER COMMON SHARE - BASIC INCOME (LOSS): Income (Loss) from Continuing Operations $ 2,503,000 $ 1,489,000 Less: Dividends on Preferred Stock 88,955 0 __________ __________ Income (Loss) Applicable to Continuing Operations 2,414,045 1,489,000 Income (Loss) on Discontinued Operations Net Income (Loss) Applicable __________ __________ to Common Stock $ 2,414,045 $ 1,489,000 =========== ========== SHARES: Weighted Average Number of Common Shares Outstanding 16,752,578 17,563,253 Income (Loss) Per Common Share - Continuing Operations $ 0.14 $ 0.08 Loss on Discontinued Operations Per Common Share $ -- $ -- ___________ ___________ Net Income (Loss) Per Share - Basic $ 0.14 $ 0.08 =========== =========== _____________________________________________________________________________ NET INCOME (LOSS) PER COMMON SHARE - DILUTED: INCOME (LOSS): Income (Loss) From Continuing Operations $ 2,503,000 $ 1,489,000 Income (Loss) From Discontinued Operations -- -- ___________ ___________ Net Income (Loss) $ 2,503,000 $ 1,489,000 =========== =========== SHARES: Weighted Average Number of Common Shares Outstanding 16,752,578 17,563,253 Number of Common Stock Equivalents Assuming Exercise of Options Reduced by the Number of Shares Which Could Have Been Purchased with the Proceeds From Exercise of Such Options 1,704,835 1,906,945 Number of shares issued for stock options exercised as of the beginning of the period 368,008 335,827 Number of Shares of Common Stock issued upon Conversion of Preferred Stock as of the beginning of the period 1,065,565 525,401 Weighted Average Number of Shares and Common Stock ___________ ___________ Equivalents assuming conversion of Preferred Stock 19,890,985 20,331,426 =========== =========== Income (Loss), Continuing Operations Per Common Share - Fully Diluted $ 0.13 $ 0.07 Loss on Discontinued Operations Per Common Share - Fully Diluted $ -- $ -- ____________ ___________ NET INCOME (LOSS) PER COMMON SHARE - DILUTED $ 0.13 $ 0.07 ============ ============