EXHIBIT 11
HEICO CORPORATION AND SUBSIDIARIES
COMPUTATION OF EARNINGS PER SHARE
1996 (2) 1995 (2)
-------------------------- ---------------------------
FULLY FULLY
PRIMARY DILUTED PRIMARY DILUTED
------- ------- ------- -------
Nine months ended July 31:
Weighted average number of common
shares outstanding 4,698,134 4,698,134 4,555,766 4,555,766
Common Stock equivalents arising from
dilutive stock options (1) 617,725 643,871 197,316 257,048
--------- --------- --------- ---------
5,315,859 5,342,005 4,753,082 4,812,814
========= ========= ========= =========
Net income per share:
From continuing operations $0.43 $0.43 $0.21 $0.20
From discontinued operations 0.18 0.18 0.20 0.20
From gain on sale of dis-
continued operations 0.99 0.98 -- --
----- ----- ----- -----
Net income per share $1.60 $1.59 $0.41 $0.40
===== ===== ===== =====
Three months ended July 31:
Weighted average number of common
shares outstanding 4,761,737 4,761,737 4,587,498 4,587,498
Common Stock equivalents arising from
dilutive stock options (1) 806,513 806,513 376,484 376,484
--------- --------- --------- ---------
5,568,250 5,568,250 4,963,982 4,963,982
========= ========= ========= =========
Net income per share:
From continuing operations $0.19 $0.19 $0.10 $0.10
From discontinued operations 0.04 0.04 0.05 0.05
From gain on sale of dis-
continued operations 0.95 0.95 -- --
----- ----- ----- -----
Net income per share $1.18 $1.18 $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 paid on July 26, 1996 and the three-for-two split of common shares
distributed in April 1996 as well as a 10% stock dividend
paid in February 1996 (see Note 4 to the Consolidated Condensed Financial
Statements).
</FN>
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