Exhibit 11 HEICO CORPORATION AND SUBSIDIARIES COMPUTATION OF EARNINGS PER SHARE 1996 1995 --------------------------- -------------------------- FULLY FULLY PRIMARY DILUTED PRIMARY DILUTED --------- --------- --------- --------- Three months ended January 31: Weighted average number of common shares outstanding 2,802,281 2,802,281 2,744,076 2,744,076 Common Stock equivalents arising from dilutive stock options (1) 276,514 281,402 37,329 52,895 --------- --------- --------- --------- 3,078,795 3,083,683 2,781,405 2,796,971 ========= ========= ========= ========= Net income per share (1) $0.28 $0.28 $0.20 $0.20 ===== ===== ===== ===== <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. </FN> -13-