Exhibit 11
HEICO CORPORATION AND SUBSIDIARIES
COMPUTATION OF EARNINGS PER SHARE
1996 (2) 1995 (2)
------------------------- ------------------------
FULLY FULLY
PRIMARY DILUTED PRIMARY DILUTED
---------- ------- ------- --------
Six months ended April 30:
Weighted average number of common
shares outstanding 4,242,120 4,242,120 4,127,183 4,127,183
Common Stock equivalents arising from
dilutive stock options (1) 475,756 511,409 97,939 179,390
--------- --------- --------- ----------
4,717,876 4,753,529 4,225,122 4,306,573
========= ========= ========== ==========
Net income per share (1) $ 0.41 $ 0.41 $ 0.29 $ 0.28
========= ========= ========= ===========
Three months ended April 30:
Weighted average number of common
shares outstanding 4,280,818 4,280,818 4,138,253 4,138,253
Common Stock equivalents arising from
dilutive stock options (1) 536,742 600,716 139,882 279,434
--------- ----------- ---------- ----------
4,817,560 4,881,534 4,278,135 4,417,687
========= ========= ========== ==========
Net income per share (1) $ 0.22 $ 0.22 $ 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
three-for-two split of common shares distributed on April 24, 1996 (see
Note 4 to the Consolidated Condensed Financial Statements).
</FN>
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