Exhibit 11 CREE RESEARCH, INC. EXHIBIT 11 STATEMENT RE: COMPUTATION OF EARNINGS PER SHARE (in thousands, except per share amounts) For the Three Months Ended September 28, 1997 September 30, 1996 -------------------------------------- -------------------------------------- Primary Fully Diluted Primary Fully Diluted ----------------- ------------------ ----------------- ----------------- Weighted Average Shares Outstanding: Common Stock 12,609 12,609 12,282 12,282 Shares Available Under Options and Warrants 799 849 753 786 ----------------- ------------------ ----------------- ----------------- Weighted Average Common and Common Equivalent Shares Outstanding 13,408 13,458 13,035 13,068 ================= ================== ================= ================= Net Income 1,169 1,169 1,906 1,906 ================= ================== ================= ================= Earnings per Share $ 0.09 $ 0.09 $ 0.15 $ 0.15 ================= ================== ================= =================