Exhibit 11
HEICO CORPORATION AND SUBSIDIARIES
COMPUTATION OF EARNINGS PER SHARE
1995 (2) 1994 (2)
-------------------------- ---------------------------
FULLY FULLY
PRIMARY DILUTED PRIMARY DILUTED
--------- --------- --------- ---------
Six months ended April 30:
Weighted average number of common
shares outstanding 2,501,323 2,501,323 2,497,254 2,497,254
Common Stock equivalents arising from
dilutive stock options (1) 59,357 108,721 48,945 48,945
--------- --------- --------- ---------
2,560,680 2,610,044 2,546,199 2,546,199
========= ========= ========= =========
Income per share from operations
before cumulative effect of
change in accounting principle $0.48 $0.47 $0.19 $0.19
===== ===== ===== =====
Cumulative effect per share of
change in accounting principle -- -- $0.15 $0.15
===== ===== ===== =====
Net income per share (1) $0.48 $0.47 $0.34 $0.34
===== ===== ===== =====
Three months ended April 30:
Weighted average number of common
shares outstanding 2,508,032 2,508,032 2,493,311 2,493,311
Common Stock equivalents arising from
dilutive stock options (1) 84,777 169,354 36,728 36,728
--------- --------- --------- ---------
2,592,809 2,677,386 2,530,039 2,530,039
========= ========= ========= =========
Income per share from operations
before cumulative effect of
change in accounting principle $0.25 $0.24 $0.15 $0.15
===== ===== ===== =====
Cumulative effect per share of
change in accounting principle -- -- -- --
===== ===== ===== ====
Net income per share (1) $0.25 $0.24 $0.15 $0.15
===== ===== ===== =====
<FN>
(1) Computed under the "treasury stock" method using the average market
price for the primary computation and using the higher of average or
ending market prices for the fully diluted computation.
(2) All of the following information has been restated to reflect the 10%
stock dividend declared on May 8, 1995 (see Note 6 to the Consolidated
Condensed Financial Statements).
</FN>
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