Exhibit 11
HEICO CORPORATION AND SUBSIDIARIES
COMPUTATION OF EARNINGS PER SHARE
____________
Following are details of the computation of earnings per share:
YEAR ENDED OCTOBER 31,
------------------------------------------------------------------------------------
1996 1995 1994
------------------------ ------------------------ --------------------------
FULLY FULLY FULLY
PRIMARY DILUTED PRIMARY DILUTED PRIMARY DILUTED
---------- ---------- ----------- ---------- ----------- ------------
Weighted average number of
common shares outstanding ............. 5,190,926 5,190,926 5,025,492 5,025,492 4,981,832 4,981,832
Common stock equivalents arising
from dilutive stock options (1) ....... 712,225 733,795 276,878 351,026 63,131 63,131
---------- ---------- ----------- ---------- ----------- ------------
5,903,151 5,924,721 5,302,370 5,376,518 5,044,963 5,044,963
========== ========== =========== ========== =========== ============
Net income:
From continuing operations
before cumulative effect
of change in accounting
principle ............................. $ 0.62 $ 0.62 $ 0.27 $ 0.27 $ 0.13 $ 0.13
From discontinued operations ............ $ 0.17 $ 0.16 $ 0.24 $ 0.23 $ 0.16 $ 0.16
From gain on sale of dis-
continued operations .................. $ 0.89 $ 0.89 -- -- -- --
From cumulative effect
of change in
accounting principle .................. -- -- -- -- $ 0.08 $ 0.08
---------- ---------- ----------- ---------- ----------- ------------
Net income per share .................... $ 1.68 $ 1.67 $ 0.51 $ 0.50 $ 0.37 $ 0.37
========== ========== =========== ========== =========== ============
[TABLE CONTINUED BELOW]
(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.
YEAR ENDED OCTOBER 31,
-------------------------------------------------------------
1993 1992
--------------------------- -----------------------------
FULLY
PRIMARY DILUTED PRIMARY DILUTED
----------- ---------- ----------- -----------
Weighted average number of
common shares outstanding ................ 5,111,521 5,111,521 4,832,701 4,832,701
Common stock equivalents arising
from dilutive stock options (1) .......... 78,675 127,014 138,779 156,836
----------- ---------- ----------- -----------
5,190,196 5,238,535 4,971,480 4,989,537
=========== ========== =========== ===========
Net income:
From continuing operations
before cumulative effect
of change in accounting
principle ................................ $ 0.14 $ 0.14 $ 0.07 $ 0.07
From discontinued operations ............... $ 0.05 $ 0.05 $ 0.19 $ 0.19
From gain on sale of dis-
continued operations ..................... -- -- -- --
From cumulative effect
of change in
accounting principle ..................... -- -- -- --
----------- ---------- ----------- -----------
Net income per share ....................... $ 0.19 $ 0.19 $ 0.12 $ 0.12
=========== ========== =========== ===========
(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.